Spot Bitcoin ETFs are about to have their fifth week in a row of outflows, with $2.7 billion in losses so far this year. 2026 is shaping up to be one of Bitcoin’s worst yearly starts.
Analysts say that Bitcoin is on track for one of its worst yearly beginnings as selling pressure on US-listed spot Bitcoin ETFs intensified on Thursday.
Outflows accelerate as trading activity declines
According to SoSoValue statistics, spot Bitcoin (BTC) $67,432 ETFs lost $165.8 million on Thursday, extending their weekly losses to $403.9 million.
The redemptions brought the funds closer to a possible five-week outflow run, bringing the total losses for the year so far (YTD) to $2.7 billion.
The amount of trading activity kept going down, dropping 21% throughout the week and hitting its lowest point since late December. This shows that investors are becoming less active.
Analysts, including DropsTab, said that 2026 is shaping up to be “one of the worst yearly starts in Bitcoin’s history,” even though there had been $53.9 billion in net inflows. TradingView data shows that BTC values are down about 22% year-to-date.
BlackRock’s IBIT leads weekly redemptions
This week, BlackRock’s iShares Bitcoin Trust ETF (IBIT) had the most outflows, totalling $368 million, according to Farside data.
Other US-listed spot Bitcoin ETFs had minimal activity this week, aside from the approximately $50 million that left the Fidelity Wise Origin Bitcoin Fund (FBTC) on Wednesday.
Earlier this week, some big banks said they were lowering their exposure to IBIT. For example, Brevan Howard lowered its stake in the fund by up to 85% in the last three months of 2025.
Bitcoin’s post-halving performance raises concerns
As Bitcoin ETFs continue to lose money, investor mood is also dropping. Multiple sources say that BTC prices are exceptionally low compared to past cycles.
Drops Analytics looked at Bitcoin’s price in the context of halving, which happens every four years and lowers the block reward for BTC. Prices usually go up in the years after halving.
Drops Analytics wrote in a Telegram post on Thursday, “BTC trades around $66,000, which is almost the same level as during the April 2024 halving.”
“This has never happened before.” It went on to say, “In previous cycles, BTC was already three to ten times higher than halving levels by now.”
Checkonchain data shows that Bitcoin is having its worst start to a year ever, 50 days into 2026, worse than any other year that has gone down, including 2018.