After a brief recovery in January, Bitcoin and Ether exchange-traded funds (ETFs) in the United States have experienced outflows exceeding $1 billion.

SoSoValue data indicates that spot Bitcoin (BTC) ETFs saw $1.13 billion in outflows on Tuesday to Thursday, offsetting the $1.17 billion inflows recorded on January 2 and Monday. Similarly, spot Ether (ETH) ETFs experienced approximately $258 million in outflows since Wednesday, following modest inflows earlier in January.

The shifts in investment signal increased caution among investors, hinting that the earlier inflows were transient and that market sentiment has grown more conservative. CoinShares reported that crypto exchange-traded products (ETPs) shed $446 million around the year-end, reflecting a cautious sentiment lingering from previous market volatility.

Spot Bitcoin ETF Data Spot Bitcoin ETF data in January 2026. Source: SoSoValue

ETF Momentum Slowed After Mid-2025 Surge

The flow data from SoSoValue highlights that spot Bitcoin and Ether ETFs saw significant accumulation in July 2025, with Bitcoin ETFs reaching monthly inflows exceeding $6 billion, while Ether funds surpassed $5 billion. Since then, however, outflows have increased significantly. Notably, in August alone, Bitcoin ETFs recorded $750 million in outflows, recovering somewhat in September and October but suffering from major outflows in November.

In contrast, altcoin ETFs tracking currencies like XRP and Solana have shown more stable inflow patterns, successfully attracting investments even amidst market fluctuations impacting Bitcoin and Ether ETFs. Despite lower overall inflows, steady interest suggests that some investors are opting for targeted exposure rather than pulling out completely.

Related: Crypto market crash last October marked end of ’easy yield’ era: BitMEX

Monthly ETF Flow Data Monthly ETF flow data since 2025. Source: SoSoValue