US spot Bitcoin ETFs have recorded five consecutive weeks of net withdrawals, with investors pulling approximately $3.8 billion from the funds during this period. The sustained outflows highlight a cautious shift among institutional investors as macroeconomic uncertainty continues to weigh on financial markets.
Last week alone, spot Bitcoin exchange-traded funds saw $315.9 million in net outflows, according to data from SoSoValue. The largest weekly withdrawal in the current streak occurred in the week ending January 30, when investors redeemed roughly $1.49 billion from Bitcoin ETF products.
Although some trading sessions showed positive momentum, they were not enough to offset heavier redemption days earlier in the week. For example, Friday recorded $88 million in inflows. However, this was overshadowed by significant withdrawals, including more than $410 million on February 12, along with additional negative sessions between February 17 and February 19.
Despite the recent pullback, US spot Bitcoin ETFs have accumulated about $54.01 billion in total net inflows since their launch. Total net assets currently stand near $85.31 billion, representing approximately 6.3% of Bitcoin’s overall market capitalization. This indicates that long-term demand for regulated Bitcoin investment products remains substantial, even as short-term sentiment weakens.
Institutional De-Risking Drives Bitcoin ETF Outflows
Market analysts suggest the recent wave of withdrawals reflects portfolio rebalancing rather than fading confidence in Bitcoin. Vincent Liu, chief investment officer at Kronos Research, noted that institutions are reducing risk exposure amid rising geopolitical tensions and broader macroeconomic uncertainty.
Ongoing trade disputes and tariff developments have contributed to a risk-off environment across global markets. In such conditions, digital assets like Bitcoin often experience heightened volatility and sensitivity to economic headlines.
Liu added that near-term ETF flows could remain unstable, depending on upcoming economic data. Key indicators such as US initial jobless claims may influence investor sentiment. Weaker-than-expected data could revive expectations of future interest rate cuts, potentially supporting risk assets, including cryptocurrencies.
Market sentiment indicators also reflect caution. The crypto fear and greed index currently sits in extreme fear territory, signaling that investors remain hesitant despite occasional price recoveries.
Spot Ether ETFs Also Face Selling Pressure
The trend is not limited to Bitcoin products. Spot Ether ETFs have also experienced five straight weeks of net outflows, as investors trimmed exposure to the second-largest cryptocurrency.
Last week, Ether ETFs recorded approximately $123.4 million in net withdrawals, according to SoSoValue. Similar to Bitcoin funds, these products saw intermittent inflows that were outweighed by larger redemption days. For instance, Ether ETFs posted $48.6 million in inflows on February 17 and $10.3 million on February 13, but heavier selling earlier in the week kept overall flows negative.
The parallel outflows from both Bitcoin and Ether ETFs suggest broader caution toward crypto-linked investment products rather than asset-specific concerns. While institutional interest in digital assets remains structurally strong, short-term positioning continues to be shaped by macroeconomic developments and shifting risk appetite.
