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U.S. Spot Bitcoin ETF products recorded a sharp reversal on Tuesday, January 7, 2026, posting $243 million in net outflows and ending a brief early-year inflow streak, according to market data.
The shift came after more than $1.16 billion flowed into Spot Bitcoin ETF offerings during the first two trading days of the year, highlighting how quickly institutional positioning can change even amid relatively stable bitcoin prices.
The move was driven largely by withdrawals from several major funds, while only one issuer managed to stay in positive territory. Analysts say the pullback reflects portfolio rebalancing rather than a broader loss of confidence in bitcoin or the Spot Bitcoin ETF structure itself.
Data from SoSoValue shows that the U.S. Spot Bitcoin ETF market posted $243 million in net outflows on Tuesday, marking the first day of negative aggregate flows in 2026.
The largest share of redemptions came from Fidelity’s FBTC, which saw $312.24 million exit the fund in a single session.
Grayscale’s flagship GBTC also continued to experience pressure, reporting $83.07 million in net outflows, while the firm’s Bitcoin Mini Trust recorded $32.73 million in withdrawals. Funds managed by Ark & 21Shares and VanEck similarly posted net outflows, contributing to the overall negative total for the Spot Bitcoin ETF segment.
These losses were only partially offset by inflows into BlackRock’s IBIT, which attracted $228.66 million on the day. IBIT was the sole Spot Bitcoin ETF to record net inflows on Tuesday and has now accumulated $888 million in net inflows across the first three trading days of the year.
Market participants were quick to caution against interpreting the Spot Bitcoin ETF outflows as a bearish signal. Vincent Liu, chief investment officer at Kronos Research, described the move as a natural adjustment following heavy buying earlier in the year.
“BTC ETF outflows look more like post-inflow normalization than risk-off,” — Vincent Liu, CIO, Kronos Research.
“Institutions are rebalancing exposure, not exiting conviction. One day of ETF outflows doesn’t outweigh the broader trend of sustained institutional allocation, especially after strong early-year 2025 inflows.”
Liu also pointed to bitcoin’s relatively muted price reaction as evidence that the Spot Bitcoin ETF pullback has not triggered broader market stress. According to market data, bitcoin was trading at $92,521 at the time of reporting, down 1.18% over the past 24 hours.
Nick Ruck, director at LVRG Research, echoed that assessment, characterizing the Spot Bitcoin ETF movement as a modest correction rather than a structural shift. He said the flows reflect “normal profit-taking and portfolio rebalancing,” particularly after strong early-year demand.
Despite the $243 million in net outflows, bitcoin’s price held within a relatively narrow range, reinforcing the view that the Spot Bitcoin ETF drawdown has not translated into panic selling. Analysts noted that large institutional investors often adjust allocations at the beginning of the year to lock in gains or rebalance risk, especially after sharp inflows like those seen earlier in the week.
The resilience in price action suggests that demand outside of ETFs, including spot market buyers and long-term holders, may be absorbing the impact of the Spot Bitcoin ETF redemptions. For now, the market appears to be consolidating rather than reversing its broader trend.
While the Spot Bitcoin ETF segment posted net outflows, other crypto exchange-traded products saw fresh inflows on the same day. Spot Ethereum ETFs reported $114.7 million in net inflows, despite redemptions from some products managed by Grayscale and Fidelity.
XRP and Solana ETFs also attracted capital, with net inflows of $19 million and $9 million, respectively. Some analysts view this as selective positioning rather than a wholesale rotation away from bitcoin.
“It makes sense that traders are rotating toward SOL and XRP, both of which could have more upside than BTC given their previous all-time high prices,” — Jeff Mei, COO, BTSE.
Liu of Kronos Research added that the relatively small flow sizes into Solana and XRP ETFs suggest tactical adjustments rather than a long-term reallocation of institutional capital away from the Spot Bitcoin ETF market.
Taken together, the data paints a picture of cautious recalibration rather than retreat. While the Spot Bitcoin ETF sector experienced its first negative day of 2026, inflows earlier in the year and continued interest in leading products like BlackRock’s IBIT indicate that institutional engagement remains intact.
Whether Spot Bitcoin ETF flows return to positive territory in the coming sessions will likely depend on broader market conditions and bitcoin’s ability to hold key price levels as investors reassess exposure after the early-year surge.
