US spot Bitcoin exchange-traded funds (ETFs) have seen their largest-ever daily net outflows as Bitcoin continues to trade below $90,000.

The 11 Bitcoin funds on Feb. 25 together saw a net outflow of $937.9 million in what is their sixth straight trading day of outflows, according to CoinGlass data.

The ETF exodus follows a crypto market rout that’s seen Bitcoin drop by 3.4% over the last day, plunging to a 24-hour low of $86,140 from an intraday high of over $92,000.

The Fidelity Wise Origin Bitcoin Fund (FBTC) led the day’s losses with $344.7 million in outflows — a new record outflow for the ETF. BlackRock’s iShares Bitcoin Trust (IBIT) was runner-up with an outflow of $164.4 million.

The Bitwise Bitcoin ETF (BITB) lost $88.3 million, while Grayscale’s two funds net lost $151.9 million, split between $66.1 million from its Grayscale Bitcoin Trust (GBTC) and $85.8 million from its Bitcoin Mini Trust ETF (BTC).

Crypto transfers are being restricted in Europe through heavy know-your-customer (KYC) procedures and blocks, potentially linked to the Travel Rule, according to several local reports.

Hasu, the strategy lead at Flashbots, reported that Coinbase is blocking transfers in Europe to recipients other than the user. Additionally, when sending crypto to a self-custodial wallet, the user must sign a message to prove ownership.

If the user receives funds instead of sending them, the sender must be identified, including passport identification. This applies even if the user sends money to his Coinbase account from another source.

Hasu said he didn’t try to avoid complying with Coinbase requirements, but he fears the whole account would be frozen.

🚨 BREAKING: Nasdaq’s filing adds to an expanding list of proposed altcoin ETFs awaiting SEC approval in the United States.

US securities exchange Nasdaq has requested to list a Grayscale exchange-traded fund (ETF) holding the Polkadot network’s native token DOT filings showed. If approved, the Grayscale Polkadot Trust would add to the asset manager’s expanding suite of publicly traded crypto funds.

The filing adds to the litany of applications with the US Securities and Exchange Commission by exchanges and asset managers seeking to list ETFs tied to alternative cryptocurrencies, or altcoins.

The SEC must review and approve the filings before trading can commence.