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Bitcoin ETF outflows return after a strong start to 2026
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Fidelity-led selling offsets early-year gains in Bitcoin ETFs
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Ethereum, XRP and Solana ETFs continue to draw fresh inflows
U.S. spot Bitcoin exchange-traded funds slipped back into negative territory on Tuesday, interrupting a brief burst of strong inflows that marked the opening days of 2026.
Data from SoSoValue show Bitcoin ETFs recorded net outflows of $243.2 million on Tuesday — the first day of aggregated negative flows this year.
The reversal followed a powerful start to the year, when the products drew more than $1.16 billion in net inflows over the first two trading sessions.
Fidelity and Grayscale drive outflows
The pullback was led by Fidelity’s Wise Origin Bitcoin Fund (FBTC), which saw $312.24 million leave the fund on Tuesday.
Grayscale’s flagship Bitcoin Trust (GBTC) also suffered sizable withdrawals, with net outflows of $83.07 million. Grayscale’s Bitcoin Mini Trust recorded another $32.73 million in redemptions.
Funds managed by Ark, 21Shares and VanEck likewise posted net outflows during the session, contributing to the day’s overall negative total.
Selling pressure was partly offset by sustained demand for BlackRock’s iShares Bitcoin Trust (IBIT), which attracted $228.66 million on Tuesday.
| Date | IBIT | FBTC | BITB | ARKB | BTCO | EZBC | BRRR | HODL | BTCW | GBTC | BTC | Total |
| 06 January 2026 | 228.7 | -312.2 | 0.0 | -29.5 | 0.0 | 0.0 | 0.0 | -14.4 | 0.0 | -83.1 | -32.7 | -243.2 |
| 05 January 2026 | 372.5 | 191.2 | 38.5 | 36.0 | 15.0 | 13.6 | 7.2 | 5.3 | 0.0 | 0.0 | 17.9 | 697.2 |
| 02 January 2026 | 287.4 | 88.1 | 41.5 | 6.7 | 4.5 | 13.0 | 0.0 | 8.3 | 0.0 | 15.4 | 6.4 | 471.3 |
| 31 December 2025 | -99.0 | -66.6 | -13.8 | -76.5 | 0.0 | -5.1 | 0.0 | -6.8 | 0.0 | -69.1 | -11.2 | -348.1 |
| 30 December 2025 | 143.7 | 78.6 | 13.9 | 109.6 | 0.0 | 0.0 | 0.0 | 5.0 | 0.0 | 0.0 | 4.3 | 355.1 |
IBIT was the only U.S. spot Bitcoin ETF to post net inflows during the session.
Despite Tuesday’s single-day reversal, IBIT remains the standout leader at the start of the year.
Over the first three trading days of 2026, the fund attracted a total of $888 million in net inflows, underscoring its dominant market position.
Ethereum and altcoin ETFs buck the trend
While Bitcoin ETFs experienced outflows, other crypto-related products continued to draw capital.
U.S. spot Ethereum ETFs recorded $114.7 million in net inflows on Tuesday, even though some Grayscale and Fidelity products saw withdrawals.
Altcoin-focused ETFs also remained in positive territory. XRP ETFs added $19 million in net inflows, and Solana ETFs saw $9 million flow into their products, highlighting ongoing investor interest beyond Bitcoin despite broader market volatility.
Explosive start still shaping the narrative for 2026
Tuesday’s outflows followed an exceptionally strong opening for Bitcoin ETFs.
In just the first two trading days of 2026, U.S. spot Bitcoin ETFs gathered more than $1.2 billion in net inflows, putting the sector on track for a potentially record year if the pace continues.
“Spot Bitcoin ETFs came into 2026 like a lion,” said senior ETF analyst Eric Balchunas of Bloomberg on Tuesday.
Balchunas noted that inflows topped $1.2 billion in just two days, with nearly all funds participating. He said WisdomTree’s Bitcoin Fund was the only exception.
He added that sustaining this pace would imply roughly $150 billion in annual inflows — about 600% more than total inflows recorded in 2025.
“I told you, if they can make $22 billion when it’s raining, imagine when the sun is shining,” Balchunas said.
U.S. spot Bitcoin ETFs attracted $21.4 billion in net inflows in 2025, compared with $35.2 billion in 2024. BlackRock’s IBIT accounted for the majority of last year’s inflows.
Momentum accelerated sharply on Monday, when Bitcoin ETFs posted $697 million in net inflows — the largest single-day inflow in three months — and Bitcoin prices rebounded and stayed above $90,000 after a volatile end to 2025.
Additionally, Morgan Stanley disclosed in a filing with the U.S. Securities and Exchange Commission on Tuesday that it plans to launch Bitcoin and Solana ETFs.
According to the filing, the proposed Morgan Stanley Bitcoin Trust would be a passive vehicle tracking the spot price of Bitcoin, without using leverage or derivatives.