U.S. spot Bitcoin exchange-traded funds recorded their first net outflow of 2026 on Tuesday, ending a short run of strong inflows at the start of the year, according to data from SoSoValue.
Several major funds saw redemptions during the session. Fidelity’s Wise Origin Bitcoin Fund led the outflows, while products from Grayscale, Ark 21Shares, and VanEck also posted net withdrawals.
BlackRock’s iShares Bitcoin Trust moved in the opposite direction. The fund recorded net inflows on the same day, helping to offset some of the selling pressure across the broader ETF market. BlackRock’s product remains the largest U.S. Bitcoin ETF by assets after leading inflows throughout 2025.
The outflow followed a strong start to the year for Bitcoin ETFs. The sector logged solid net inflows during the first two trading days of 2026, driven by rising Bitcoin prices after a volatile end to 2025.
Despite the short-term dip, analysts say institutional interest remains strong. Bloomberg ETF analyst Eric Balchunas said the inflows seen at the start of the year suggested demand was still broad-based, adding that maintaining that pace would have implied inflows well above 2025 levels.
Flows into other crypto-linked products were mixed. U.S. spot Ethereum ETFs recorded net inflows on Tuesday, even as some individual funds from Grayscale and Fidelity saw outflows. Exchange-traded products focused on XRP and Solana also attracted fresh capital.
Adding to signs of continued institutional involvement, Morgan Stanley disclosed plans to launch Bitcoin and Solana exchange-traded funds. According to a filing with the U.S. Securities and Exchange Commission, the proposed Bitcoin fund will track the spot price of Bitcoin and will not use leverage or derivatives.
U.S. spot Bitcoin ETFs ended 2025 with net inflows overall, though totals were lower than in the previous year. BlackRock’s iShares fund accounted for the majority of those inflows, reinforcing its dominant position in the market.
