Overview
- U.S. spot Bitcoin ETFs posted $103.57 million in redemptions on Jan. 23, extending a five-day streak that has removed about $1.72 billion since Jan. 16 and reduced assets to roughly $116 billion.
- The stretch included an estimated $708.7 million single-day withdrawal on Jan. 21, the biggest daily exit since November, following $394.68 million on Jan. 16 and $483.38 million on Jan. 20.
- Spot Ether ETFs saw four straight outflow sessions through Jan. 23 totaling about $611 million, including roughly $297.5 million on Jan. 21, with total assets sliding to around $17.7 billion.
- Market watchers point to the drop in Bitcoin basis-trade yields to near 5% from about 17% a year ago, curbing hedge fund arbitrage activity during a broader risk-off turn.
- Flows show selective rotation as Solana-linked ETFs drew about $9.5 million during Jan. 17–23, while cumulative Bitcoin ETF net inflows remain sizable at roughly $56.5 billion.