The week of February 16–22, 2026 witnessed a substantial setback for US-listed spot cryptocurrency ETFs, with net outflows reaching $415.47 million. Marking one of the largest weekly withdrawals in recent months, this sharp exodus has dragged total assets under management down to approximately $98 billion, underscoring shifting investor sentiment across the institutional crypto landscape.
Bitcoin and Ethereum Funds Lead the Slide
Among all cryptocurrency ETF products, those based on Bitcoin and Ethereum bore the brunt of this week’s sell-off. Bitcoin ETFs saw net outflows of $315.86 million, with a total of 4,680 Bitcoins offloaded by institutional holders. Notably, that figure equals nearly 12 days’ worth of new Bitcoin produced by miners. Meanwhile, Ethereum ETFs experienced $123.37 million in net withdrawals, which corresponded to the sale of 63,218 Ethereum coins. These significant redemptions point to a marked reduction in institutional exposure to the two largest cryptocurrencies.
Top Issuers and Transaction Breakdown
Prominent ETF providers—including BlackRock, Fidelity, and Grayscale—featured prominently in transaction activity this week. BlackRock unloaded 4,497 Bitcoin and 52,151 Ethereum, trailing closely by Fidelity, which sold 290 Bitcoin and 4,127 Ethereum. In contrast, Grayscale bucked the Bitcoin trend slightly by adding 400 Bitcoin to its holdings, even as it sold 3,756 Ethereum. While Bitcoin sales were prominent across the largest issuers, Ethereum funds saw persistent outflows throughout the period.
Selective Inflows into Altcoin ETFs
Despite widespread withdrawals impacting major crypto funds, some altcoin ETFs managed to attract modest net inflows. Solana-based funds led the way, recording $14.31 million in new capital. Avalanche ETFs drew $4.26 million, Chainlink followed with $2.40 million, and XRP ETFs registered $1.84 million in positive movement. In the case of Hedera Hashgraph (HBAR), net inflows were reported at $949,000. Dogecoin and Litecoin ETFs, meanwhile, saw no meaningful activity throughout the week.
These figures suggest notable differentiation in the strategy of major portfolio managers, with infrastructure and lower-layer crypto assets retaining some investor appeal in an otherwise cautious environment.
The accelerated liquidations in both Bitcoin and Ethereum ETFs signal that institutions are re-evaluating their positions amid continued global market volatility. Many are acting prudently, seeking to mitigate risks as they navigate uncertain financial terrain.
Furthermore, the turnover of 4,680 Bitcoins within a single week—nearly double the newly minted supply—highlights the scale of institutional repositioning. Market watchers note that such sizable moves can have a pronounced impact on spot market liquidity, occasionally heightening price sensitivity in the short term.
In summary, the latest data reveal mounting outflows from major cryptocurrency ETFs, even as a segment of investors pivots towards alternate layer-1 and infrastructure-focused products in search of diversification.
