Bitcoin ETFs log $105M outflows as mystery IBIT buyer surfaces

US spot Bitcoin exchange-traded funds (ETFs) posted $104.9 cardinal successful nett outflows connected Tuesday successful the archetypal trading league this week.

Total trading measurement successful spot Bitcoin (BTC) ETFs fell to conscionable implicit $3 billion, down astir 80% from a grounds $14.7 cardinal connected Feb. 5, reflecting a continued slowdown successful trading activity, according to SoSoValue data.

Daily flows successful US spot Bitcoin ETFs since Feb. 9, 2026. Source: SoSoValue

The outflows came arsenic different circular of institutions reported their Bitcoin ETF holdings for the 4th fourth of 2025, with Jane Street ranking arsenic the second-largest purchaser of BlackRock’s iShares Bitcoin ETF (IBIT) successful Q4, buying $276 million.

Q4 besides saw a caller IBIT entrant, an obscure Hong Kong-based institution called Laurore, which acquired $436.2 cardinal of the ETF successful a azygous acquisition reported to the US Securities and Exchange Commission.

A imaginable motion of Chinese institutions moving into Bitcoin?

According to Bitwise Investments advisor Jeff Park, Laurore’s recently disclosed presumption successful IBIT could beryllium an aboriginal denotation of organization Chinese superior entering Bitcoin.

Park said Laurore has nary nationalist footprint — nary website oregon property — and the lone disposable accusation is that the filer’s sanction is Zhang Hui, the Chinese equivalent of “John Smith.”

Source: Jeff Park

While Park speculated that the concern whitethorn beryllium linked to superior flight, immoderate commentators questioned wherefore the institution would take to bargain Bitcoin done an ETF alternatively than directly.

Brevan Howard slashes IBIT holdings by 85%

Beyond Laurore and Jane Street, respective institutions made important moves with IBIT successful Q4 2025. Weiss Asset Management reportedly added astir 2.8 cardinal shares ($107.5 million), portion 59 North Capital accrued its presumption by 2.6 cardinal shares ($99.8 million).

Abu Dhabi’s state-owned concern steadfast Mubadala Investment besides boosted its IBIT holdings by 45%, rising from 8.7 cardinal shares successful Q3 to 12.7 cardinal successful Q4, valued astatine $630.7 million.

Source: Zerohedge

In contrast, immoderate companies chopped their Bitcoin ETF vulnerability successful Q4 2025. Brevan Howard reduced its IBIT holdings, dropping astir 85% from 37 cardinal shares ($2.4 billion) successful Q3 2025 to astir 5.5 cardinal shares ($273.5 million) successful Q4.

Goldman Sachs besides trimmed its IBIT holdings by astir 40%, leaving astir $1 cardinal successful assets.

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