US Spot Bitcoin ETFs Shed $1.7 Billion In Five-Day Losing Streak As BTC Stalls Below $90K ⋆ ZyCrypto

Investors withdrew capital from U.S. spot Bitcoin exchange-traded funds on Friday, marking the fifth successive trading day of outflows amid intensified macroeconomic and geopolitical uncertainty. This clearly indicates that institutional appetite for BTC has waned, leaving the market in a fragile state.

$1.72 Billion Exits BTC ETFs 

The 11 spot Bitcoin exchange-traded funds (ETFs) listed in the U.S. collectively bled $1.72 billion over five days, marking one of the largest and most sustained periods of net outflows since the funds debuted in January 2024, according to data source SoSoValue.

Wednesday bore the brunt of the outflows, with $709 million leaving the BTC ETFs, followed by $483 million in withdrawals on Tuesday. The net redemptions slowed toward the end of the week, with Thursday and Friday logging $32 million and $104 million outflows, respectively.

BlackRock’s IBIT, the largest spot Bitcoin fund by assets, posted outflows on each of the four trading days last week, per SoSoValue.

That said, the outflows mark a sharp U-turn from the prior week, when the same ETFs pulled in $1.4 billion in fresh capital.

Bitcoin was trading hands around $88,571 at press time, having not seen the psychologically important $100,000 price milestone since Nov. 13, according to CoinGecko. Amid the ETF cooling, Bitcoin remains 6.7% over the last week.

The five-day outflow stretch, which started last Friday, continued on January 23 amid growing investor aversion toward the top cryptocurrency.

Crypto sentiment platform Santiment noted in a Saturday report that the crypto market is currently in “a phase of uncertainty.”

“Retail traders are heading for the exits, while money and attention are flowing to more traditional assets,” Santiment wrote, contending that a reversal from the current downside could be possible in the near-term.

“At the same time, quieter signals like supply distribution and the lack of social chatter hint that a bottom may be taking shape,” Santiment continued. “The best move is probably patience.”

Solana ETFs Buck Trend With Gains

Despite the recent bleeding, cumulative net inflows into spot BTC ETFs since their launch stand at $56.5 billion, with total net assets hovering around $116 billion.

Meanwhile, spot Ether (ETH) ETFs also saw over $611 million in outflows for the week. 

While Bitcoin and Ether ETFs experienced multiple days of outflows, spot Solana ETFs continued their winning streak, taking in $9.6 million in investor money over the same period.