Institutional capital tapped the brakes on Wednesday, triggering a sector-wide retreat that saw U.S. spot Bitcoin ETFs hemorrhage $486 million, the deepest single-day wound since November 2025.
Data from SoSoValue confirms the reversal ended a buoyant start to 2026, coinciding with Bitcoin failing to hold the $90,000 support level. But the sharper signal came from the altcoin sector: for the first time since their November launch, spot XRP ETFs posted a net outflow.
Fidelity and BlackRock Lead the Exit
The $486.1 million Bitcoin exodus was not driven by marginal players. Fidelity’s FBTC led the selling with a massive $247.6 million outflow, while BlackRock’s IBIT, typically the market’s liquidity anchor, shed $130 million. Ark Invest’s ARKB and Bitwise’s BITB added to the pressure, losing $42 million and $39 million, respectively.
This marks a decisive pivot from the aggressive accumulation seen in early January. As reported, the selling pressure forced Bitcoin spot prices below $90,000, resetting leverage across the derivatives market.
The $486 million exit wiped out nearly 70% of the inflows recorded earlier in the week, suggesting a rapid shift to risk-off positioning among institutional allocators.
XRP’s 36-Day Honeymoon Ends
Spot XRP funds, which had enjoyed an unbroken 36-day inflow streak amassing over $1.2 billion, finally blinked. The group recorded a net outflow of $40.8 million on January 7.
The damage was concentrated. While Bitwise ($2.44M) and Canary Capital ($2.32M) saw minor inflows, they were overwhelmed by a $47.25 million redemption from the 21Shares XRP ETF (TOXR). The shift triggered an immediate reaction in the spot market, with XRP sliding 14% to trade near $2.08.
Ether Bleeds, Solana Survives
Ethereum products offered no shelter, shedding $98.4 million. Grayscale’s ETHE accounted for more than half that volume ($52M), with Fidelity’s FETH losing $13 million.
In a telling divergence, Solana ETFs were the only major products to close in the green, posting a modest $1.97 million inflow led by Bitwise. The split suggests that while macro liquidity is pausing, sector-specific bets on high-throughput chains remain active.
