U.S. Bitcoin ETFs See $1.33B Leave in a Single Week

U.S. spot Bitcoin exchange-traded funds (ETFs) recorded $1.33 billion in net outflows in the week ending Jan. 23, according to SoSoValue data. It was the biggest weekly redemption since February 2025. 

The outflows came during a shortened four-day trading week because of the Martin Luther King Jr. Day holiday. It happened just one week after the funds saw $1.42 billion in inflows, showing a quick shift in investor sentiment.

Bitcoin ETFs See Heavy Midweek Outflows Despite Steady Prices

Most of the outflows happened midweek, with $709 million withdrawn on Wednesday alone. Tuesday followed closely, with $483 million in redemptions. 

Selling pressure eased toward the end of the week, with $32 million leaving on Thursday and $104 million on Friday. This was the heaviest weekly outflow since late February 2025, when Bitcoin ETFs lost $2.61 billion during a sharp market drop. 

That earlier period saw Bitcoin fall from above $109,000 to below $80,000, along with a record single-day outflow of $1.14 billion. In contrast, prices during the latest week did not fall as sharply. This suggested that the ETF exits were driven more by portfolio adjustments than by panic selling.

BlackRock’s IBIT, the largest spot Bitcoin ETF by assets, posted outflows on all four trading days. IBIT currently holds about $69.75 billion in net assets, accounting for roughly 3.9% of bitcoin’s circulating supply.

Despite the weak week, long-term interest in Bitcoin ETFs remains strong. Since their launch in January 2024, U.S. spot Bitcoin ETFs have attracted total net inflows of $56.5 billion. Combined net assets across all products stand near $115.9 billion.

Ethereum and Other Crypto ETFs Follow Mixed Paths

Ethereum ETFs also saw outflows, with $611 million leaving over four days. This reversed the previous week, when the funds recorded $479 million in inflows.

Total net assets across U.S. spot Ethereum ETFs are about $17.7 billion. Since launching in July 2024, they have recorded cumulative net inflows of $12.3 billion.

Not all crypto-linked ETFs saw money leave. Spot Solana ETFs attracted $9.6 million in net inflows, extending a positive trend. 

Bitwise’s BSOL continued to lead the category by assets under management. Spot XRP ETFs, however, recorded $40.6 million in net outflows, with most of the selling occurring on Tuesday.

On-Chain Data Signals Growing Caution

Market analysts have pointed to a widening gap between crypto and traditional assets. Min Jung, a research associate at Presto Research, noted that investors appear more comfortable holding stocks than crypto at the moment.

This shift is also reflected in on-chain data. According to a recent CryptoQuant report, Bitcoin holders have begun realizing net losses for the first time since October 2023. 

Over the past 30 days, cumulative realized losses have totaled about 69,000 BTC. CryptoQuant added that current market patterns resemble the early stages of the 2021–2022 transition from a bull market to a bear market.