Key Takeaways
- • BlackRock's iShares Bitcoin Trust (IBIT) recorded $104.97 million in investor redemptions, according to the primary report, with the outflow reflecting investors withdrawing capital from the fund rather than BlackRock selling Bitcoin for its own account.
- • US spot Bitcoin ETFs recorded approximately $104.9 million in combined net outflows on February 18, 2026, indicating the withdrawal extended beyond IBIT.
- • Trading volume across US Bitcoin ETFs fell nearly 80% from the February 5 peak to just over $3 billion during the period.
- • Q4 2025 13F filings showed Laurore, a Hong Kong-based entity, bought $436.2 million of IBIT, while Jane Street added $276 million, though its holdings may reflect market-making activity.
- • Brevan Howard cut its IBIT holdings by approximately 85% and Goldman Sachs reduced its position by 40% in the same quarter.
Summary
BlackRock's iShares Bitcoin Trust (IBIT) recorded $104.97 million in investor redemptions, according to a report published by Hokanews and originally filed by Cryptobriefing. The outflow reflected investors withdrawing capital from the fund rather than BlackRock selling Bitcoin for its own corporate account. IBIT remains the largest US spot Bitcoin ETF by assets and cumulative inflows. The reported redemption figure closely matched broader market data, with US spot Bitcoin ETFs recording approximately $104.9 million in combined net outflows on February 18, 2026, indicating that the withdrawal extended beyond BlackRock's fund.
Trading activity has also slowed considerably. Trading volume across US Bitcoin ETF products dropped nearly 80% from the peak recorded on February 5, falling to just over $3 billion during the period. The report notes that trading volume alone does not establish whether investors are becoming more bullish or bearish on Bitcoin, though it points to a significant easing of the intensity that characterized the earlier peak.
Quarterly institutional disclosures offer further context on positioning. Form 13F filings for the fourth quarter of 2025 showed Laurore, a Hong Kong-based entity, acquiring $436.2 million of IBIT, and trading firm Jane Street adding another $276 million. The report cautions that Jane Street's exposure should be viewed in light of its market-making activities, which may reflect liquidity operations rather than a directional long-term view on Bitcoin. In the opposite direction, Brevan Howard reduced its IBIT holdings by approximately 85%, while Goldman Sachs cut its position by 40% over the same quarter.
The report characterizes the $104.97 million daily withdrawal as notable but not necessarily indicative of a broader institutional retreat, given the cumulative capital that has entered US spot Bitcoin ETFs since their January 2024 launch, which the report describes as tens of billions of dollars in net inflows. Taken together, the figures point to shifting institutional positioning rather than a uniform withdrawal of capital.
Trading activity has also slowed considerably. Trading volume across US Bitcoin ETF products dropped nearly 80% from the peak recorded on February 5, falling to just over $3 billion during the period. The report notes that trading volume alone does not establish whether investors are becoming more bullish or bearish on Bitcoin, though it points to a significant easing of the intensity that characterized the earlier peak.
Quarterly institutional disclosures offer further context on positioning. Form 13F filings for the fourth quarter of 2025 showed Laurore, a Hong Kong-based entity, acquiring $436.2 million of IBIT, and trading firm Jane Street adding another $276 million. The report cautions that Jane Street's exposure should be viewed in light of its market-making activities, which may reflect liquidity operations rather than a directional long-term view on Bitcoin. In the opposite direction, Brevan Howard reduced its IBIT holdings by approximately 85%, while Goldman Sachs cut its position by 40% over the same quarter.
The report characterizes the $104.97 million daily withdrawal as notable but not necessarily indicative of a broader institutional retreat, given the cumulative capital that has entered US spot Bitcoin ETFs since their January 2024 launch, which the report describes as tens of billions of dollars in net inflows. Taken together, the figures point to shifting institutional positioning rather than a uniform withdrawal of capital.
Go deeper than the headline
Research every firm in this story, track the ones that matter and get the daily briefing — free for 7 days.