bitcoinetf

Setiap kali Bitcoin terlihat seolah-olah akan mati, sesuatu yang lebih tenang sedang terjadi di bawah. Harga akan berfluktuasi, berita utama akan berteriak, dan di suatu tempat di latar belakang, infrastruktur terus dibangun. Penitipan. Kepatuhan. Pipa. Ketika saya pertama kali melihat persetujuan Dana yang Diperdagangkan di Bursa Bitcoin, yang menarik perhatian saya bukanlah perayaannya. Itu adalah waktu. Itu datang tidak pada saat kekacauan, tetapi pada saat ketika sistem telah cukup stabil untuk menyerapnya.

Di permukaan, ETF Bitcoin terlihat hampir membosankan. Ini adalah pembungkus yang familiar — sebuah dana yang diperdagangkan di bursa saham — memegang aset yang tidak dikenal. Anda tidak perlu dompet. Anda tidak perlu memahami kunci pribadi. Anda membelinya dengan cara yang sama seperti Anda membeli saham dari dana indeks. Itulah cerita utamanya, dan itu benar sejauh itu berjalan. Tetapi itu melewatkan apa yang sebenarnya sedang disetujui.

U.S. spot Bitcoin exchange-traded funds (ETFs) recorded their worst weekly performance since February 2025, as investors pulled a combined $1.33 billion from the products during a shortened four-day trading week.
The sharp reversal comes after the same group of ETFs attracted $1.42 billion in net inflows the previous week. U.S. markets were closed on Monday in observance of Martin Luther King Jr. Day, reducing the trading week to four sessions.
Outflows were heavily concentrated midweek. On Wednesday alone, Bitcoin ETFs saw $709 million withdrawn, following $483 million in outflows on Tuesday. Selling pressure eased toward the end of the week, with withdrawals slowing to $32 million on Thursday and $104 million on Friday.
This marks the largest weekly net outflow since late February 2025, a period of heightened volatility when Bitcoin prices fell sharply from above $109,000 to below $80,000. That episode, often referred to by analysts as the “February freeze,” included a record single-day outflow of $1.14 billion on February 25.
BlackRock’s IBIT Leads Weekly Outflows
BlackRock’s IBIT, the largest spot Bitcoin ETF by assets under management, recorded outflows in all four trading sessions during the week. The heaviest selling occurred on Tuesday and Wednesday, contributing significantly to the broader ETF drawdown.
Despite the recent pressure, IBIT still manages approximately $69.75 billion in net assets, representing nearly 3.9% of Bitcoin’s total circulating supply, underscoring its continued importance within the ETF ecosystem.
Since their launch in January 2024, U.S. spot Bitcoin ETFs have still accumulated roughly $56.5 billion in total net inflows, with combined net assets standing near $115.9 billion, highlighting that the longer-term trend remains constructive despite short-term volatility.
Ethereum ETFs Also Face Heavy Redemptions
Spot Ethereum ETFs experienced similar pressure, recording $611 million in net outflows for the week. Wednesday marked the worst session for Ethereum products, with $298 million withdrawn, followed by $230 million on Tuesday.
This represents a sharp reversal from the prior week, when Ethereum ETFs attracted $479 million in net inflows, largely driven by strong demand for BlackRock’s ETHA fund and products managed by Grayscale.
Total net assets across Ethereum ETFs currently stand at approximately $17.7 billion, with cumulative net inflows of $12.3 billion since their launch in July 2024.
Solana ETFs Defy Trend, XRP Shows Mixed Flows
In contrast to Bitcoin and Ethereum, Solana spot ETFs continued to post modest gains, attracting $9.6 million in net inflows during the four-session week. These products have now recorded several consecutive weeks of positive flows, led primarily by Bitwise’s BSOL fund.
Meanwhile, XRP ETFs experienced more volatile activity. The group recorded $40.6 million in net outflows overall, driven largely by a $53 million withdrawal on Tuesday. Flows turned slightly positive later in the week, with daily inflows ranging between $3 million and $7 million.
The pullback followed the first-ever daily net outflow for XRP ETFs since their launch in mid-November, which occurred earlier in January.
Market Sentiment Turns Defensive
Analysts note that cryptocurrencies have underperformed other risk assets in recent weeks, as investors appear increasingly comfortable allocating capital to equities rather than digital assets. This shift is reflected not only in price action but also in ETF fund flows.
On-chain data further suggests a broader structural change in market behavior. Bitcoin holders have begun realizing net losses for the first time since October 2023. Over the past 30 days, the market has transitioned from a profit-taking phase to a loss-cutting environment, with an estimated 69,000 BTC in realized losses accumulated since December 23.
Current on-chain conditions show notable similarities to the transition period from the bull market to the bear market during the 2021–2022 cycle, raising caution among market participants as macro uncertainty persists.
This article is for informational purposes only and does not constitute investment advice. Readers should conduct their own research before making any financial decisions. The author assumes no responsibility for investment outcomes.
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Saya sudah melihat saga ETF Bitcoin ini selama beberapa waktu dan sejujurnya? Ini seperti rollercoaster. Setiap kali ada sedikit berita persetujuan, harga menjadi gila. Lalu itu ditunda lagi dan semuanya jatuh kembali. Drama kripto klasik.
Tapi inilah hal yang orang-orang lewatkan - ini bukan hanya tentang mendapatkan persetujuan dari SEC. Ini jauh lebih besar dari itu.
Pikirkan tentang itu. Ada sekitar 10.000+ investor institusional di AS yang memiliki $70 triliun. TRILIUN. Kebanyakan dari mereka ingin terpapar kripto tetapi mereka tidak akan repot-repot dengan dompet dingin dan bursa yang mencurigakan. Mereka ingin sesuatu yang sesuai dengan buku pedoman mereka yang sudah ada - beli ETF, selesai. Mudah.