In the United States, spot Bitcoin ETFs experienced their most turbulent week since February 2025, shedding light on the shifting risk appetite in markets. Despite the holiday-shortened week, a net outflow of $1.33 billion was recorded, reversing the previous week’s positive inflows. The sell-off was particularly pronounced in the first half, coinciding with the closure of markets on Monday. Ethereum ETFs witnessed a similar trajectory, whereas Solana products managed a minor positive deviation.
Significant Outflows in Bitcoin ETFs
The spot Bitcoin ETFs in the U.S. faced a notable dissolution during the four-day trading week, shortened due to Martin Luther King Jr. Day. Wednesday marked the heaviest sell-off, with $709 million exiting the funds in a single session. Tuesday’s outflow of $483 million comprised a substantial portion of the weekly total. Despite lower numbers on Thursday and Friday, the week ended in the negative.
This movement indicates more than just a short-term fluctuation. The last significant outflow was in February 2025, totaling $2.61 billion, leading to a sharp return from record high Bitcoin prices. During that period, market volatility peaked, with an unprecedented daily withdrawal of $1.14 billion. The recent week’s pattern suggests a similar risk mitigation behavior.
BlackRock’s spot Bitcoin ETF, the largest in its category, reported net outflows throughout the week, amounting to approximately 69.75 billion dollars in assets, representing about 3.9% of Bitcoin supply. Despite the pullback, the total net capital inflow into U.S. spot Bitcoin ETFs since their January 2024 launch stands at $56.5 billion.
Divergence in Ethereum, Solana, and XRP
The dissolution trend in Bitcoin influenced Ethereum ETFs, which closed the week with a net outflow of $611 million. Wednesday saw the harshest movement with $298 million withdrawn in one session. The $230 million outflow on Tuesday was the primary source of the weekly loss, illustrating a sudden and distinct shift following strong inflows the previous week.
The total net asset size for Ethereum ETFs hovers around $17.7 billion, with cumulative net inflows at $12.3 billion since their July 2024 launch. However, the past week’s scenario shows investors adopting a more cautious stance towards risky digital assets.
Conversely, Solana ETFs bucked the trend, recording a net inflow of $9.6 million over four trading days, maintaining positive flows for consecutive weeks. Meanwhile, XRP ETFs experienced volatility, ending the week with a net outflow of $40.6 million but showed limited recovery towards the week’s end. On-chain data reveal Bitcoin investors resuming losses and selling, providing context for the directional shift in ETFs.
