BlackRock absorbs selling as U.S. Bitcoin ETFs slip into first 2026 outflow

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U.S. spot Bitcoin ETFs saw their first net outflow of 2026, but BlackRock inflows and Morgan Stanley’s new Bitcoin and Solana ETF plans underscore lingering institutional demand.
Summary

  • U.S. spot Bitcoin ETFs posted their first daily net outflow of 2026 as Fidelity, Grayscale, Ark 21Shares and VanEck products saw redemptions.
  • BlackRock’s iShares Bitcoin Trust still drew fresh cash and remains the largest Bitcoin ETF after leading 2025 inflows.
  • Morgan Stanley filed for new Bitcoin and Solana ETFs, adding blue‑chip backing to crypto ETPs even as short‑term flows wobble.

U.S. spot Bitcoin exchange-traded funds recorded net outflows on Tuesday, marking the first day of negative aggregate flows in 2026 after two consecutive sessions of strong inflows, according to data from SoSoValue.

BTC ETFs outflows continue into 2026

Fidelity’s Wise Origin Bitcoin Fund led the outflows on Tuesday, the data showed. Grayscale’s flagship Bitcoin Trust and its Bitcoin Mini Trust also recorded withdrawals, while funds managed by Ark & 21Shares and VanEck posted net outflows during the session.

BlackRock’s iShares Bitcoin Trust recorded net inflows on Tuesday, partially offsetting the selling pressure across other products, according to the data. The fund has attracted substantial cumulative inflows across the first three trading days of 2026, maintaining its position as the largest Bitcoin ETF by assets.

U.S. spot Ethereum ETFs recorded net inflows on Tuesday, even as some products from Grayscale and Fidelity experienced outflows, SoSoValue data showed. XRP-focused and Solana-focused exchange-traded products also recorded fresh inflows during the session.

The outflows followed a strong opening to the year for Bitcoin ETFs. In the first two trading days of 2026, the sector recorded substantial net inflows, according to the data.

“The spot Bitcoin ETFs are coming into 2026 like a lion,” Bloomberg senior ETF analyst Eric Balchunas said, noting that inflows in just two days were substantial with nearly all funds participating. Balchunas added that maintaining the pace would imply annual inflows far exceeding totals recorded in 2025.

U.S. spot Bitcoin ETFs attracted net inflows in 2025, though the total was smaller than the prior year, according to industry data. BlackRock’s iShares product accounted for the majority of 2025 inflows.

Bitcoin ETFs logged their largest single-day inflows in three months on Monday as Bitcoin prices rose following a volatile end to 2025, according to market data.

Morgan Stanley disclosed in a filing with the U.S. Securities and Exchange Commission that it plans to launch Bitcoin and Solana ETFs. The proposed Morgan Stanley Bitcoin Trust will be a passive vehicle designed to track Bitcoin’s spot price and will not employ leverage or derivatives, according to the filing.

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