TLDR
- U.S. spot Bitcoin ETFs have seen $3.8 billion in outflows over five straight weeks, the longest streak since early 2025.
- BlackRock’s IBIT led the retreat with $2.13 billion in redemptions over the same period.
- Spot Ether ETFs also posted five consecutive weeks of outflows, totaling $1.39 billion.
- SOL and XRP ETFs bucked the trend, recording modest inflows of $14.3 million and $1.8 million respectively.
- Analysts cite U.S.-Iran tensions, Trump tariff announcements, and technical chart factors as drivers of the risk-off mood.
U.S. spot Bitcoin ETFs have now posted five straight weeks of net outflows, shedding approximately $3.8 billion since the week of January 20. It is the longest losing streak for the funds since February and March of 2025.
ETF OUTFLOWS JUST HIT A STREAK WE HAVEN’T SEEN IN A YEAR 👀
Spot Bitcoin ETFs have now logged five straight weeks of outflows — the longest streak since March 2025.
On the surface, that looks bearish.
But step back and look at the macro context. This isn’t institutions… pic.twitter.com/QIDLjKcP7O
— CryptosRus (@CryptosR_Us) February 22, 2026
Last week alone saw $316 million leave the funds. That came during a shortened four-day trading week due to the Presidents’ Day holiday.
The first three days of that week were all negative. Outflows hit roughly $105 million on Tuesday, $133 million on Wednesday, and $166 million on Thursday.
Friday offered some relief. $88 million flowed back in, led by BlackRock’s IBIT at $64.5 million and Fidelity’s FBTC at $23.6 million. But it was not enough to flip the week positive.
BlackRock’s IBIT has led the broader outflow trend. The fund has lost around $2.13 billion over the five-week period, making it the single largest source of redemptions in the Bitcoin ETF space.
The current streak is similar in length to the one seen in early 2025, but smaller in size. That prior run saw roughly $5.4 billion pulled from the funds over five weeks, coinciding with Trump’s tariff announcements and a sharp drop in risk assets.
Bitcoin is currently trading around $65,000, down more than 20% year-to-date. That puts it below the $79,000 level that on-chain analytics firm Glassnode identifies as the “True Market Mean.”
ETH Follows Bitcoin Lower
Spot Ethereum ETFs have also recorded five straight weeks of outflows. The five-week total for Ether funds stands at approximately $1.39 billion, with last week alone seeing $123 million in redemptions.
Analysts have pointed to several factors driving the risk-off behavior. These include lingering U.S.-Iran tensions, fresh global tariff announcements from President Trump, and bearish signals on Bitcoin price charts.
21Shares head of macro Stephen Coltman said bulls will want to see $65,000 hold as a floor. He added that a sustained move above $70,000 would suggest recent selling pressure has run its course.
SOL and XRP Hold Steady
Not all crypto ETFs are seeing outflows. Spot Solana ETFs recorded $14.3 million in net inflows last week. Spot XRP ETFs added $1.8 million.
Bitwise’s BSOL fund leads the Solana ETF category by assets under management. XRP ETFs have drawn steady demand since launching in November.
Analysts at BRN have described the current environment as “fatigue, not panic.” They note crowded short positions and compressed volatility, which could set up a sharp move in either direction.
Despite the recent outflows, Bitcoin ETFs still hold roughly $85.3 billion in net assets. Total cumulative inflows since their January 2024 launch stand at approximately $54 billion.
