US-listed spot Bitcoin ETFs are extending their losing streak, with fresh capital outflows adding to growing concerns about Bitcoin’s weak performance in early 2026.
On Thursday, spot Bitcoin ETFs recorded $165.8 million in net outflows, pushing total weekly losses to $403.9 million, according to data from SoSoValue. The latest redemptions bring the funds closer to a five-week outflow streak, while year-to-date (YTD) net outflows have now reached $2.7 billion.
Trading activity has also slowed significantly. Weekly ETF trading volumes dropped 21%, hitting their lowest levels since late December. The decline suggests fading investor participation at a time when Bitcoin is struggling to regain momentum.
Despite cumulative net inflows of $53.9 billion since launch, 2026 is shaping up to be one of the weakest starts in Bitcoin’s history. According to TradingView data, Bitcoin is down approximately 22% year-to-date, reflecting mounting selling pressure across both spot markets and exchange-traded funds.
BlackRock’s IBIT Leads Weekly Bitcoin ETF Outflows
Among US-listed funds, BlackRock’s iShares Bitcoin Trust (IBIT) led the outflows this week. The ETF recorded $368 million in net redemptions, accounting for the majority of losses across the sector, based on Farside data.
Other major spot Bitcoin ETFs saw relatively muted activity. The Fidelity Wise Origin Bitcoin Fund (FBTC) reported around $50 million in outflows on Wednesday, while most other issuers experienced minimal movement.
Institutional positioning appears to be shifting as well. Hedge fund Brevan Howard reportedly reduced its IBIT holdings by as much as 85% during the fourth quarter of 2025, signaling a more cautious stance toward Bitcoin exposure.
The sustained ETF outflows highlight weakening institutional sentiment, particularly as Bitcoin struggles to establish a strong recovery.
Bitcoin Price Struggles Near Post-Halving Levels
Bitcoin’s price action is adding to investor concerns. Nearly two years after the April 2024 halving event, BTC is trading around $66,000 — roughly the same level it was at during the halving itself.
Historically, Bitcoin has delivered strong gains in the years following a halving, often trading three to ten times above its halving price within a similar timeframe. This cycle, however, appears to be breaking from that pattern.
Analytics platform Drops noted that Bitcoin’s current price behavior is unprecedented compared to previous market cycles. Meanwhile, data from Checkonchain indicates that 2026 marks Bitcoin’s worst yearly start on record at the 50-day mark, even surpassing declines seen in 2018.
