Bitcoin exchange-traded funds (ETFs) experienced $1.33 billion in net outflows during the week ending January 23, 2026, marking the second-largest weekly redemption on record. Ethereum ETFs followed with $611 million in withdrawals, led by BlackRock's products. This reversal came after strong inflows the previous week amid broader market pressures.
The cryptocurrency market faced significant selling pressure in the week ending January 23, 2026, as spot Bitcoin and Ethereum ETFs saw substantial outflows. Bitcoin ETFs recorded $1.33 billion in net outflows, reversing the prior week's $1.42 billion inflows. This included four consecutive days of redemptions from January 20 to 23: $483.38 million on Monday, a peak of $708.71 million on Tuesday (January 21), $32.11 million on Wednesday, and $103.57 million on Thursday.
BlackRock's iShares Bitcoin Trust (IBIT) contributed notably, with approximately $522.4 million in weekly outflows, including $356.6 million on January 21, $101.6 million on January 23, and $56.9 million on January 20, partially offset by a $15.1 million inflow earlier. Total net assets for Bitcoin ETFs dropped to $115.88 billion from $124.56 billion, with cumulative inflows falling to $56.49 billion from $57.82 billion.
Ethereum ETFs mirrored the trend, logging $611.17 million in outflows, upending the previous week's $479.04 million gains. BlackRock's iShares Ethereum Trust (ETHA) led with $432 million in redemptions, accounting for 71% of the total. Daily figures showed $229.95 million on January 20, $297.51 million on January 21, $41.98 million on January 22, and $41.74 million on January 23. Ethereum ETF net assets declined to $17.70 billion from $20.42 billion, with cumulative inflows at $12.30 billion down from $12.91 billion.
These outflows coincided with weakening market sentiment, as Bitcoin traded below $90,000 and Ethereum below $3,000. Institutional investors reduced exposure amid macro uncertainty and declining risk appetite, exacerbating a broader crypto downturn. While Solana ETFs saw $9.57 million in inflows, XRP ETFs recorded their first weekly outflow of $40.64 million.
