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Spot Bitcoin ETFs in the United States recorded their seventh consecutive day of outflows on Feb. 26, with BlackRock’s IBIT seeing its highest single-day withdrawals since launch.

According to data from SoSoValue, the 12 spot Bitcoin ETFs recorded $754.53 million in net outflows on Wednesday, following the $1.14 billion net redemptions seen the previous day.

BlackRock’s IBIT led the outflows, with $418.06 million exiting the fund, marking its highest net outflow day post-launch. Fidelity’s FBTC followed, with $145.69 million in outflows, extending its streak to seven consecutive days of redemptions.

While no Bitcoin ETFs recorded positive inflows on the day, the following ETFs also saw outflows:

• ARK and 21Shares’ ARKB: $60.46 million
• Grayscale’s mini Bitcoin Trust: $55.97 million
• Grayscale’s GBTC: $22.66 million
• Invesco Galaxy’s BTCO: $16.83 million
• Bitwise’s BITB: $13.65 million
• WisdomTree’s BTCW: $11.52 million
• Franklin Templeton’s EZBC: $9.69 million

Daily trading volume for spot Bitcoin ETFs stood at $5.79 billion at press time. Since their launch, these ETFs have still accumulated a net inflow of $37.12 billion overall.

So far in February, around $3.1 billion has exited the 12 ETFs, with only four days of net inflows recorded.

ETF Store President Nate Geraci expressed his frustration over traditional finance’s stance on Bitcoin and crypto in a Feb. 26 post on X, stating he was “still amazed at how much TradFi hates Bitcoin and crypto.”

He noted that some in the sector take “huge victory laps at every downturn” but emphasized that despite significant price drops, Bitcoin “is not going away.”

Meanwhile, Bloomberg senior ETF analyst Eric Balchunas pointed out that Bitcoin ETFs have been under pressure, recording over $1 billion in outflows in a single day and experiencing massive withdrawals throughout the week. However, he highlighted a silver lining, noting that these outflows represent “less than 2% of assets” and that despite the downturn, “over 98% of the money [is] HODLing.”

Balchunas reiterated his long-term perspective on Bitcoin’s market cycles, stating, “Like I said, it’s gonna be two steps [forward], one step back. Get used to it.”