📅 January 31
The optimism with which Bitcoin began the year evaporated in a matter of days. What appeared to be a 2026 dominated by the influx of institutional capital through Bitcoin spot ETFs ended up becoming one of the toughest months on record for these products since their creation.
📖Data from SoSoValue reveals that approximately $1.49 billion came out of US Bitcoin spot ETFs in the last week of January alone. Selling pressure intensified abruptly in the last two days of the week. $818 million in net outflows were recorded on Wednesday, the largest single-day redemption so far in 2026. On Thursday, another $510 million left the funds.
For four consecutive sessions, from Tuesday to Friday, ETFs recorded daily outflows, with only a slight respite on Monday when $7 million entered, a figure insignificant compared to the volume of subsequent withdrawals. This move pushed January's total outflows to $1.6 billion, making it the third worst month ever for Bitcoin ETFs.
The contrast with the beginning of the year is striking. In the first days of January, Bloomberg analyst Eric Balchunas pointed out that ETFs were entering the year “like a lion.” However, the end of the month showed a completely opposite behavior.
An important detail is that the exits occurred in both Bitcoin and Ether ETFs, which indicates that institutional investors were not rotating capital between crypto assets, but rather reducing their total exposure to the sector.
Topic Opinion:
The crypto market is no longer moved solely by technological narratives or its own cycles, but by institutional capital decisions that respond to macro, political and regulatory factors.
💬 Do you think ETFs are making Bitcoin stronger... or more dependent on Wall Street?
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