22/02/26

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Selling pressure continued to mount on US-listed spot Bitcoin exchange-traded funds (ETFs), marking a challenging start to 2026 for the cryptocurrency. Data indicates that Thursday saw approximately $165.8 million in outflows from these ETFs, bringing weekly outflows to nearly $404 million. This persistent trend signals a potential fifth straight week of withdrawals, with year-to-date losses approaching $2.7 billion. The decline in investor activity is also reflected in a 21% drop in trading volume over the past week, reaching levels not seen since late December.

Despite a cumulative net inflow of around $53.9 billion into Bitcoin-focused funds historically, current conditions suggest a tense market environment. Industry analysts have highlighted that 2026 is shaping up to be among the worst starts in Bitcoin’s trading history, with the asset experiencing a decline of roughly 22% since the beginning of the year, according to market data. The combination of declining prices and outflows underscores waning investor confidence in the current rally.

Among the ETFs, BlackRock’s iShares Bitcoin Trust ETF has experienced the most notable outflows, losing approximately $368 million this week. Other US-listed Bitcoin ETFs have seen minimal activity, with some reporting slight redemptions — for instance, Fidelity’s Wise Origin Bitcoin Fund saw about $50 million withdrawn during Wednesday’s trading. Several major institutions have also scaled back their holdings; for example, Brevan Howard drastically reduced its exposure to BlackRock’s fund by up to 85% in the recent quarter.

This trend aligns with broader market sentiment, as Bitcoin’s price levels currently lag behind historical cycles following its halving events, which typically trigger significant price increases. Recent analysis suggests that Bitcoin’s price has remained stagnant around $66,000, near levels seen during the April 2024 halving, a phenomenon that is unprecedented in previous cycles where prices often surged multiple times above halving levels before subsequent declines.

Overall, Bitcoin’s harsh start to 2026 reflects sustained selling pressure and growing skepticism among investors, marking a notable deviation from previous years’ bullish cycles.