Spot bitcoin ETFs post worst week since February 2025 with $1.33 billion in outflows

U.S. spot bitcoin exchange-traded funds posted their worst week since February 2025, with $1.33 billion in net outflows across a shortened four-day trading week, according to SoSoValue data.

The outflows mark a sharp reversal from the prior week, when the same funds attracted $1.42 billion in net inflows. Markets were closed Monday for the Martin Luther King Jr. Day holiday, leaving only four trading sessions.

Wednesday delivered the heaviest blow, with $709 million exiting bitcoin ETFs in a single session, followed by $483 million in outflows on Tuesday, per SoSoValue. The bleeding slowed toward the end of the week, with Thursday and Friday seeing $32 million and $104 million in redemptions, respectively.

The week's outflows represent the largest weekly redemptions since late February 2025, when bitcoin ETFs shed $2.61 billion during a volatile stretch that saw bitcoin fall from its then-all-time high above $109,000 to below $80,000. That period, which analysts dubbed the "February Freeze," included a record single-day outflow of $1.14 billion on Feb. 25.

BlackRock's IBIT, the largest spot bitcoin ETF by assets, recorded outflows on each of the four trading days last week, according to SoSoValue data. IBIT saw its heaviest redemptions on Tuesday and Wednesday, contributing significantly to the overall weekly decline. The fund holds approximately $69.75 billion in net assets and represents roughly 3.9% of bitcoin's total supply.

Despite the recent outflows, cumulative net inflows into U.S. spot bitcoin ETFs since their January 2024 launch remain at $56.5 billion, with total net assets standing at approximately $115.9 billion.

Ethereum ETFs follow suit

Spot Ethereum ETFs mirrored their bitcoin counterparts, posting $611 million in net outflows for the week. Wednesday was also the worst session for ether products, with $298 million in redemptions, followed by $230 million on Tuesday, per SoSoValue.

The week's ether ETF outflows represent a significant reversal from the prior week, which saw $479 million in net inflows driven by strong performances from BlackRock's ETHA and Grayscale funds.

Total Ethereum ETF net assets now stand at approximately $17.7 billion, with cumulative net inflows of $12.3 billion since the products launched in July 2024.

Solana and XRP ETFs buck the trend

While bitcoin and ether funds bled capital, spot Solana ETFs continued their positive momentum, attracting $9.6 million in net inflows over the four trading days, per SoSoValue. The products have now seen inflows for multiple consecutive weeks, with Bitwise's BSOL maintaining its position as the category leader by assets under management.

Spot XRP ETFs had a more mixed week, posting a net outflow of $40.6 million. Tuesday saw $53 million leave the funds, though the products recovered modest inflows of $7 million to $3 million on the remaining days. The outflows follow XRP ETFs' first daily net outflow since their mid-November debut, which occurred during the first week of January.

"Crypto has been weaker relative to other asset classes, with investors feeling more comfortable taking positions in stocks than in crypto," Min Jung, Research Associate at Presto Research, previously told The Block. "That dynamic appears to be continuing, and is reflected in both price action and ETF flows."

The ETF outflows come as on-chain data signals a broader shift in market dynamics. Bitcoin holders have begun realizing net losses for the first time since October 2023, according to a CryptoQuant report published Thursday. The firm said the market has transitioned from a "profit-taking" phase to a "loss-realization" phase over the past 30 days, with cumulative realized losses totaling approximately 69,000 BTC since Dec. 23. CryptoQuant noted the current on-chain structure resembles patterns observed during the 2021-2022 bull-to-bear transition.

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