Spot Bitcoin and Ethereum exchange-traded funds (ETFs) in the United States experienced significant outflows on Wednesday, January 22, 2026, totaling nearly $1 billion as institutional investors reduced risk exposure. According to data from SoSoValue, spot Bitcoin ETFs reported a daily net outflow of $708.7 million, marking their largest single-day exit in two months. The outflows were led by BlackRock's iShares Bitcoin Trust (IBIT), which saw $356.6 million leave the fund, followed by Fidelity's Wise Origin Bitcoin Fund (FBTC) with $287.7 million in outflows.
Ether ETFs mirrored the trend, recording a combined net outflow of $286.9 million across five funds. BlackRock's iShares Ethereum Trust (ETHA) accounted for the bulk, posting $250.3 million in outflows. Grayscale's Ethereum Mini Trust was a rare bright spot, attracting $10 million in inflows.
The sell-off coincided with a viral social media post from influencer Ash Crypto, which claimed BlackRock had sold over $600 million in Bitcoin and Ethereum. The post, featuring an image of BlackRock CEO Larry Fink with red arrows pointing down at BTC and ETH logos, spread panic through trading circles. However, on-chain analysis revealed the cited figures were from November 2025 ETF redemption data, not a new liquidation event. BlackRock's products still hold over $40 billion in Bitcoin, and Ether exposure remains stable.
Analysts attributed the genuine outflows to macroeconomic headwinds. "Wednesday's outflows look like classic derisking behaviour," said Rachael Lucas, crypto analyst at BTC Markets. "When macro conditions turn hostile, higher rates, geopolitical flare ups, or sudden volatility, institutions tend to rotate out of higher beta assets first." The outflows occurred as Bitcoin briefly dipped to $87,000 amid U.S.-EU tensions and volatility in the Japanese government bond market. Prices later stabilized, with Bitcoin recovering to around $90,000 and Ether near $3,000 following positive geopolitical developments.
Despite the heavy outflows, the long-term institutional narrative remains intact. "Spot Bitcoin ETFs still hold more than $116 billion in assets and have taken in over $56 billion in net inflows since launch," Lucas noted, characterizing the event as a tactical adjustment rather than a reversal of adoption. In a contrasting trend, spot XRP and Solana ETFs reported net inflows of $7.16 million and $2.92 million, respectively, on the same day.
