Selling pressure in US-listed spot Bitcoin ETFs continued Thursday, with cryptocurrency on track for one of its worst yearly starts.
Spot Bitcoin ETFs saw $165.8 million in outflows Thursday, bringing weekly losses to $403.9 million. The redemptions moved the funds closer to a potential five-week outflow streak, with year-to-date losses totaling $2.7 billion.
Trading activity has shrunk 21% over the week, reaching its lowest levels since late December, signaling weakening investor interest.
Despite $53.9 billion in cumulative net inflows, analysts note 2026 is shaping up to be one of the worst yearly starts in Bitcoin's history, with BTC prices down roughly 22% year-to-date.
BlackRock's iShares Bitcoin Trust ETF (IBIT) led this week's outflows, totaling $368 million. Other US-listed ETFs saw minimal activity, with the Fidelity Wise Origin Bitcoin Fund (FBTC) experiencing about $50 million in outflows Wednesday.
Some major financial institutions reported reducing IBIT exposure earlier this week, with Brevan Howard cutting its holding by as much as 85% in the fourth quarter of 2025.
The ongoing outflows coincide with weakening investor sentiment. Bitcoin's price is unusually low compared to previous cycles, especially in the context of its halving events.
Bitcoin is off to its worst yearly start on record, 50 days into 2026, surpassing previous down years.