Overview
- U.S. spot bitcoin ETFs saw $817.9 million in outflows on Jan. 29 and another $509.7 million on Jan. 30, taking the week’s redemptions to roughly $1.5 billion for BTC products and near $1.7 billion across crypto funds.
- BlackRock’s IBIT led withdrawals with about $318 million on Jan. 29, while Fidelity’s FBTC and Grayscale’s GBTC also posted sizable redemptions, underscoring concentrated selling in the largest issuers.
- Bitcoin fell as low as about $75,710, breaking below the ETF cohort’s realized cost around $79,000–$80,000, with roughly $1.6 billion in leveraged positions liquidated over 24 hours, according to market trackers.
- Analysts tied the deleveraging to tighter dollar liquidity and risk-off flows, citing a rising Treasury General Account, speculation about a hawkish Fed chair pick focused on Kevin Warsh, and weak equity cues.
- Despite the weekly pullback, data show cumulative net inflows into spot bitcoin ETFs remain large, and reports note that long-term holders such as MicroStrategy face paper losses without immediate forced selling.