The cryptocurrency market may be entering a new phase of capital reallocation. Stephen McClurg, CEO of investment firm Canary Capital, stated that investment products based on $XRP are showing more consistent inflows compared to Bitcoin and Ethereum ETFs. This may indicate a gradual shift in institutional investor priorities.
Hedge funds that previously acted as key drivers of growth for crypto ETFs in the U.S. have begun exiting their positions en masse, according to Bloomberg. This has added further pressure on Bitcoin, which has already lost nearly 50% of its value from its all-time highs.
Between February 16 and 20, 2026, the sector of spot Bitcoin ETFs recorded investment outflows of $315.86 million, according to data from SoSoValue.
U.S. spot Bitcoin ETFs recorded $133.3 million in outflows on Wednesday, February 18, bringing the weekly total to negative $238 million. Unless Thursday and Friday reverse the trend, funds will post their first five-week streak of outflows since March 2025.
U.S. spot Bitcoin ETFs continue to manage approximately $85 billion in assets despite the sharp drop in Bitcoin’s price.
U.S. spot Bitcoin ETFs recorded a net outflow of $104.99 million, marking a return to outflows after just one trading day of net inflows.
On Monday, February 9, spot bitcoin funds attracted $145 million. This is already the second consecutive positive day. On Friday, February 6, inflows into BTC ETFs amounted to $371 million.
On Tuesday, February 3, issuers of spot Bitcoin funds recorded outflows of $272 million, causing ETF assets to fall below $100 billion for the first time since April 2025.
On Monday, February 2, spot Bitcoin funds recorded a net inflow of $561.9 million, breaking a four-day streak of outflows and marking the highest single-day inflow since January 14.
Investors withdrew $1.82 billion from U.S. spot Bitcoin and Ethereum ETFs over the last five trading days amid continued weakening market sentiment and rising precious metal prices.
Analysts believe the market has reached a point at which investors stop locking in profits. The bitcoin price of $86,600 serves as a psychological threshold: if the crypto asset remains above the average ETF share cost, this will strengthen investor confidence and stabilize capital inflows. A sustained drop below this level carries the risk of mass sell-offs — investors would lose their “profit buffer” and begin withdrawing capital, CryptoQuant suggested.
On Tuesday, January 20, amid ongoing market turbulence, the combined net outflows from exchange-traded funds based on Bitcoin and Ethereum exceeded $713 million.
The year 2025 was marked by a massive inflow of capital into ETFs backed by physical gold reserves.
Bitcoin has reinforced its upward trajectory after breaking out of a consolidation phase. This breakout signals growing confidence among market participants in the continuation of the trend.
The fund with the largest capital outflow was IBIT from BlackRock — nearly $193 million was withdrawn from it. It was followed by Fidelity’s FBTC, which saw an outflow of $74 million. Grayscale’s GBTC fund recorded moderate losses, analysts noted.
BlackRock, the world’s largest asset manager with nearly $13 trillion in assets under management, has included bitcoin among its key investment themes for 2025, alongside U.S. Treasury bills and shares of major American technology companies.
Українська
Русский
English