Spot Bitcoin ETFs in the US are coming under increasing pressure – what’s behind the latest developments and how are investors reacting to them?
• The demand for Bitcoin ETFs has recently decreased significantly
• The Bitcoin price is noticeably under pressure
• Positive impulses have not yet been able to trigger a noticeable recovery
For a long time, Bitcoin was considered an investment for technology-savvy and risk-taking investors. The launch of spot Bitcoin ETFs aims to make the cryptocurrency accessible to a broader investor base.
Spot Bitcoin ETFs in the USA
On January 10, 2024, the US approved spot Bitcoin ETFs for the first time. Since then, various products have been available there from providers such as BlackRock and Fidelity. Investors in the USA can now invest directly in Bitcoin – regulated and via the stock exchange, which represents a significant step forward, especially for institutional investors. There are currently no such ETFs in Europe, including Germany, because the UCITS guidelines protect investors from unsuitable financial instruments and do not allow corresponding funds.
Average purchase price in the red
Alex Thorn, head of research at Galaxy Digital, pointed out in a post on
BTC is trading below the US ETFs avg cost basis after the 2nd & 3rd biggest outflow weeks ever (last week and week before)
(and last week’s outflow will increase after IBIT reports Friday’s numbers tomorrow)
this means the average bitcoin ETF purchase is underwater pic.twitter.com/XowzrnBaSM
– Alex Thorn (@intangiblecoins) February 2, 2026
Continued outflows are weighing on Bitcoin ETFs
According to a report by BeInCrypto, demand for spot Bitcoin ETFs in the USA is decreasing significantly, which is putting them under increasing pressure: The twelve products in total have already recorded outflows of around 1.6 billion US dollars this year. Over the last three months, outflows from ETFs totaled around $6 billion, according to data from SoSoValue.
In addition, the Bitcoin ETFs have not experienced a comparable period of losses since they were approved by the US Securities and Exchange Commission two years ago, which observers see as a sign of falling demand. According to the report, data from CryptoQuant confirms the downward trend in Bitcoin ETFs: Since the beginning of the year, investors have withdrawn around 4,595 Bitcoin from the twelve funds.
Investor sentiment and price development
The falling demand coincides with a declining price trend for Bitcoin: According to data from CoinMarketCap, the cryptocurrency has lost significant value since its record high of $126,198.07 in October 2025. Bitcoin is currently trading at just under $68,516.41 and has lost around 46 percent of its value since its record high (as of February 15, 2026).
According to BeInCrypto, Jim Bianco, founder of Bianco Research, explained that markets are designed to price in future developments early and that even positive impulses – such as the appointment of cryptocurrency supporters to key economic positions – have not triggered a recovery trend, adding that the establishment of Bitcoin in the market is now fully priced in, meaning that the cryptocurrency is once again considered a risky and volatile investment.
Editorial team finanzen.net
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