Bitcoin ETFs recorded $1.33 billion in net outflows during the week ending January 23 and had the second-largest weekly redemptions on record.
Summary
- Bitcoin ETFs recorded outflows of $1.33 billion, the second-largest weekly redemption on record.
- Ethereum ETFs followed with $611 million in withdrawals, led by BlackRock’s ETHA.
- Solana ETFs remained positive with inflows, while XRP saw its first weekly outflow.
The exodus reversed the previous week’s $1.42 billion inflow as institutional investors reduced exposure to cryptocurrencies amid market volatility.
Ethereum spot ETFs followed with $611.17 million in weekly outflows, led by BlackRock’s ETHA, which recorded $432 million in redemptions. XRP spot ETFs recorded their first weekly outflow since their launch with $40.64 million, ending a streak of positive flows.
Solana Spot ETFs bucked the trend with $9.57 million in weekly inflows, providing the only bright spot among major crypto ETF products.
Bitcoin ETFs record four consecutive days of outflows
The period from January 20 to 23 saw continued selling pressure throughout Bitcoin ETF. Capital outflows worth $483.38 million were recorded on Monday, followed by the largest single-day exodus of $708.71 million on Tuesday.
Wednesday generated $32.11 million in refunds, while Thursday closed with $103.57 million in withdrawals.
Total net assets under management fell to $115.88 billion on Jan. 23 from $124.56 billion on Jan. 16.
Cumulative total net inflows fell to $56.49 billion from $57.82 billion during the same period. The total value traded during the week reached $17.45 billion.
The reversal came just a week after Bitcoin ETFs attracted strong institutional buying. The week ending January 16 generated $1.42 billion in inflows for four consecutive positive days, and January 14 marked the strongest single-day performance with $843.62 million.
Weekly data shows Bitcoin ETFs alternating between inflows and outflows throughout January. The week ending January 2 saw inflows of $458.77 million, followed by outflows of $681.01 million in the week ending January 9.
Ethereum loses $611 million as BlackRock leads repayments
Ethereum’s weekly outflows amounted to $611.17 million, reversing the previous week’s inflows of $479.04 million.
BlackRock’s ETHA accounted for 71% of the $432 million worth of redemptions, while other funds contributed the remaining $179 million.
Daily departures remained constant throughout the week. Withdrawals of $229.95 million occurred on January 20, followed by $297.51 million on January 21.
The last two days saw outflows of $41.98 million and $41.74 million, respectively.
Total net assets of Ethereum ETFs fell to $17.70 billion on January 23 from $20.42 billion on January 16.
Cumulative total net inflows fell to $12.3 billion from $12.91 billion. Weekly trading volume reached $6.99 billion.
XRP ETFs recorded their first weekly outflow of $40.64 million after three consecutive weeks of inflows.
