The outflow reflected investors withdrawing capital from the fund rather than BlackRock selling Bitcoin for its own corporate account. IBIT, which trades under the ticker IBIT, remains the largest US spot Bitcoin ETF by assets and cumulative inflows.
The reported redemption figure closely matched broader market data. US spot Bitcoin ETFs recorded approximately $104.9 million in combined net outflows on February 18, 2026, indicating that the withdrawal extended beyond BlackRock's fund.
Bitcoin ETF Trading Volume Falls Nearly 80%
Beyond the daily redemption figure, declining trading activity has become another notable development in the US Bitcoin ETF market. Trading volume across the products dropped nearly 80% from the peak recorded on February 5.
Total trading volume fell to just over $3 billion during the period, pointing to a significant slowdown in activity compared with earlier levels.
The decline suggests that the intensity of trading that characterized the market's previous peak had eased, although trading volume alone does not establish whether investors are becoming more bullish or bearish on Bitcoin.
Institutional Investors Reshape Their IBIT Holdings
Quarterly institutional disclosures provide additional insight into how major investment firms adjusted their exposure to BlackRock's Bitcoin ETF during the final three months of 2025.
Form 13F filings, which large institutional investment managers submit to disclose their investment holdings, showed substantial changes in IBIT positions during the fourth quarter.
Among the notable buyers was Laurore, a Hong Kong-based entity that acquired $436.2 million worth of IBIT during the quarter. Trading firm Jane Street also increased its position, adding another $276 million in shares.
However, Jane Street's holdings should be considered in the context of its market-making activities. Its ETF positions may reflect trading and liquidity operations rather than a straightforward long-term investment view on Bitcoin.
Several major institutions moved in the opposite direction. Brevan Howard reduced its IBIT holdings by approximately 85%, while Goldman Sachs cut its position by 40% during the same quarter.
Bitcoin ETFs Continue to Attract Institutional Attention
US spot Bitcoin ETFs entered the market in January 2024 and quickly accumulated tens of billions of dollars in net inflows. BlackRock's IBIT subsequently established itself as the leading fund in the category.
These investment products created a regulated brokerage-based route for traditional investors to gain exposure to Bitcoin without directly managing cryptocurrency wallets, private keys or exchange accounts.
The structure has made spot Bitcoin ETFs accessible to institutional investors, including pension funds, wealth managers and hedge funds that may prefer traditional investment vehicles.
What the Latest Bitcoin ETF Outflows Indicate
The $104.97 million withdrawal from IBIT represents a notable daily movement, but it does not necessarily indicate a broader institutional retreat from Bitcoin. The amount remains relatively small compared with the cumulative capital that has entered US spot Bitcoin ETFs since their launch in 2024.
The institutional positioning data also presents a mixed picture. While Brevan Howard and Goldman Sachs reduced their exposure, Laurore and Jane Street increased their holdings by hundreds of millions of dollars.
Laurore's $436.2 million purchase is particularly notable because it highlights the participation of a Hong Kong-based entity in the US-listed Bitcoin ETF market.
Taken together, the figures point to changing institutional positioning rather than a uniform withdrawal of capital. Daily ETF redemptions, declining trading activity and quarterly holdings disclosures offer different perspectives on investor behavior, making it important to assess them collectively.
source: cryptobriefing
Writer: Ethan Collins
Crypto Journalist
Ethan Collins reports on developments across the cryptocurrency and blockchain sector. His work covers market movements, protocol updates, regulatory changes, and emerging trends in digital assets.
He focuses on presenting complex topics in a clear and accessible manner for a broad readership.
Writer: Ethan Collins
Crypto Journalist
Ethan Collins reports on developments across the cryptocurrency and blockchain sector. His work covers market movements, protocol updates, regulatory changes, and emerging trends in digital assets.
He focuses on presenting complex topics in a clear and accessible manner for a broad readership.
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The articles on Hokanews are here to keep you updated on the latest buzz in crypto, tech, and beyond—but they’re not financial advice. We’re sharing info, trends, and insights, not telling you to buy, sell, or invest. Always do your own homework before making any money moves.
Hokanews isn’t responsible for any losses, gains, or chaos that might happen if you act on what you read here. Investment decisions should come from your own research—and, ideally, guidance from a qualified financial advisor. Remember: crypto and tech move fast, info changes in a blink, and while we aim for accuracy, we can’t promise it’s 100% complete or up-to-date.
