Bitcoin On-Chain Data: Retail Exits While Institutional ETF Holdings Surge

Spot Bitcoin exchange-traded funds (ETFs) recorded one of their best days for weeks in terms of inflows on February 25, marking their first meaningful increase in holdings since mid-October 2025. The shift comes as analysts point to falling retail flows and heavy unrealized losses among newer buyers as signs that market structure could be turning. The Institutional Signal vs. Retail Exit In a March 2 market update, a…