Spot Bitcoin ETF Assets Slip Below $100 B, First Time Since April 2025
By [Author Name] – February 4 2026
The combined assets under management (AUM) of U.S. spot‑bitcoin exchange‑traded funds (ETFs) fell beneath the $100 billion mark on Tuesday, registering the first sub‑$100 billion level since April 2025. The decline follows a fresh outflow of roughly $272 million, according to data compiled by analytics firm SoSoValue.
What the numbers show
- Current AUM: ~ $99 billion (down $272 million from the previous day).
- Peak: About $168 billion in October 2025.
- YTD net outflows: Approximately $1.3 billion.
The dip came amid a broader sell‑off across the cryptocurrency market. Bitcoin (BTC) breached the $74,000 threshold on Tuesday, while the total market capitalization of digital assets contracted from $3.11 trillion to $2.64 trillion over the past week, as reported by CoinGecko.
Flow dynamics: Bitcoin vs. altcoins
After a brief rebound on Monday that saw $562 million of net inflows into spot‑bitcoin ETFs, Tuesday’s outflows reversed that gain. By contrast, ETFs that track major altcoins posted modest net inflows:
| Altcoin ETF | Net inflow (Tue) |
|---|---|
| Ether (ETH) | $14 million |
| XRP | $19.6 million |
| Solana (SOL) | $1.2 million |
The contrasting flow patterns suggest that investors are rotating capital from Bitcoin‑centric products toward a limited set of alternative digital assets, albeit in relatively small amounts.
Institutional perspective
The current price of BTC sits below the ETF creation cost basis of roughly $84,000, meaning that any new shares issued would be created at a loss. This mismatch adds pressure on fund managers and could dampen further inflows. Nevertheless, market participants do not expect the outflows to trigger a cascade of redemptions.
ETF analyst Nate Geraci noted on X that “the vast majority of assets in spot BTC ETFs stay put regardless,” indicating a core of investors who are likely holding their positions for the long term. Thomas Restout, CEO of institutional liquidity provider B2C2, echoed a similar sentiment, describing institutional ETF investors as “more resilient” and suggesting that they tend to maintain their positions even amid market turbulence.
Restout also hinted at an emerging trend: a shift from passive exposure via ETFs to direct on‑chain trading. In a recent Rulematch Spot On podcast he said, “The next level of transformation is institutions actually trading crypto, rather than just using securitized ETFs. We’re expecting the next wave of institutions to be
Source: https://cointelegraph.com/news/bitcoin-etf-aum-below-100-billion-first-since-april-2025?utm_source=rss_feed&utm_medium=feed&utm_campaign=rss_partner_inbound
