Bitcoin (BTC) and Ethereum’s native token, Ether (ETH), proceed to seek for worth stability after buying and selling at respective intraday lows of $66,171 and $1,912 on Thursday.
As this course of runs its course, new evaluation from Bloomberg investigates how the spot BTC and ETF holders are faring amid sustained worth weak point and slowing exchange-traded fund (ETF) inflows.
Key takeaways:
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Web worth of the spot Bitcoin ETF belongings fell to $85.76 billion from $170 billion (Oct 2025 peak), with the 2026 internet flows at about -$2 billion.
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The spot Ether ETF asset worth dropped to $11.27 billion from $30.5 billion, with ETH buying and selling close to $2,000 vs. a $3,500 value foundation.
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Solely about 6% of Bitcoin ETF belongings exited in the course of the latest downturn, indicating restricted capitulation.
Bitcoin, Ether ETF asset values contract as inflows stall
Bloomberg analyst James Seyffart said Ether ETF holders are “sitting in a worse place” than Bitcoin ETF traders. With ETH beneath $2,000, nicely beneath the estimated $3,500 common value foundation, i.e., the typical worth at which spot ETF traders accrued their positions, the drawdown has exceeded 50% at its latest low of $1,736.
By comparability, Bitcoin is presently priced at $66,171, additionally beneath its estimated $84,063 ETF value foundation, although the drawdown is notably much less at 21%.
Seyffart famous that the whole internet inflows into ETH ETFs have declined by solely about $3 billion, suggesting most ETH ETFs traders have held their positions in the course of the latest dip.
Property held within the spot Bitcoin ETF peaked at $170 billion in October 2025 and now stand at $85.76 billion. The inflows slowed sharply after mid-2025, with $13.7 billion recorded within the first half of the yr, $7.64 billion within the second half and about $2 billion in outflows year-to-date. Since July 2025, the cumulative internet flows quantity to $5.64 billion.
On Feb. 5, senior Bloomberg ETF analyst Eric Balchunas noted that solely about 6% of whole Bitcoin ETF belongings exited in the course of the latest sell-off. BlackRock’s IBIT has declined to $51 billion from $100 billion at its peak worth, nevertheless it stays one of many quickest ETFs to succeed in $60 billion in belongings.
Related: Bitcoin miner outflows spike in January, but public sales remain limited
Bitcoin ETF flows enter bear-market regime
The rolling 30-day Bitcoin ETF flows have turned firmly detrimental following a failed try to return to inflows territory. Excluding a quick rebound, this marks the longest stretch of sustained outflows since launch.
Glassnode knowledge additionally noted that the 30-day easy shifting common (SMA) of internet flows for each Bitcoin and Ether spot ETFs has remained detrimental for a lot of the previous 90 days. The info exhibits no clear signal of renewed demand.
Macroeconomic publication Ecoinometrics said the speed of those outflows suggests traders are actively lowering publicity somewhat than reacting to short-term volatility.
The publication added that the mixture of worth weak point and sustained detrimental flows aligns with a “bear-market regime” somewhat than a short lived correction.
Related: Bitcoin futures data shows bears gearing up for an assault on $60K
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