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BTC ETFs Suffer Heavy Redemption
Data from SoSoValue shows that investors pulled $817.9 million from the 11 U.S.-listed spot Bitcoin ETFs on January 29, the biggest daily redemption since Nov. 20, amid waning institutional risk appetite.
The withdrawals were led by BlackRock’s IBIT, which registered $317.81 million in outflows — a figure larger than the combined outflows of Fidelity’s FBTC ($168 million) and Grayscale’s GBTC ($119 million).
Smaller products were not spared from the hammering, with Bitwise, Ark 21Shares, and VanEck all losing investor money. Overall, spot BTC funds have posted around $1.1 billion in net outflows so far in January, per SoSoValue.
Despite the aggressive selling, Bitcoin ETFs remain a major part of the market. With roughly $108 billion in assets under management (AUM), they account for around 6.5% of Bitcoin’s total market capitalization of about $1.65 trillion.
 
Ether ETFs also bled on Thursday, losing $156 million on the day.
Bitcoin Rout
The synchronized ETF outflows followed a confluence of macro headwinds that pulled Bitcoin lower.
According to price aggregator CoinGecko, Bitcoin slid to as low as $81,314 as the crypto market unraveled hard — its lowest level since April 2025. At press time, the leading crypto had recovered to $82,897, still down 3.8% on the day.
BTC remains on track for its fourth successive monthly loss, a streak that has persisted since October 2025 — marking the longest such streak since 2018 during the post-ICO bear market.
The precipitous market drawdown led to forced liquidations, with over $1.8 billion in leveraged bets across crypto markets being wiped out over the last 24 hours, mainly from long traders, as per Coinglass data.