Which BTC ETFs saw outflows?

TLDR

In the past week, outflows were reported from Fidelitys Wise Origin Bitcoin Fund (FBTC), Grayscales Bitcoin Trust (GBTC) and its Mini Trust, ARK 21Shares (ARKB), VanEck (HODL), and BlackRocks IBIT on later days.

1. On 7 Jan, FBTC saw about $312M out, and GBTC about $83M (fund?level recap).
2. The same day, Grayscales Mini Trust (~$32.7M), ARKB, and HODL also posted redemptions (issuer breakdown).
3. Later in the week, IBIT flipped to outflows (for example $251.97M on 9 Jan), while FBTC briefly showed small inflows that day (daily flows).

Deep Dive

1. Largest Outflows Early Week

The first negative day of 2026 (7 Jan) saw concentrated redemptions: FBTC led with about $312M, GBTC followed with roughly $83M, and aggregate ETF flows printed a net outflow of around $243M despite IBITs offsetting inflow (day recap).

• A second report corroborates the issuer list and sizes, noting IBITs inflow on that day while the net basket still turned negative (issuer breakdown).

2. Other Issuers With Redemptions

Beyond FBTC and GBTC, Grayscales lower?fee Mini Trust (~$32.7M), ARK 21Shares (ARKB), and VanEck (HODL) also registered outflows on 7 Jan (same issuer breakdown).

• Multiple coverage pieces repeated the pattern of smaller redemptions among these funds alongside the larger withdrawals from FBTC/GBTC (recap).

3. IBIT Flows Later In The Week

Flow leadership rotated as the week progressed. IBIT, which had inflows on 7 Jan, posted outflows later (for example $193.34M on 8 Jan and $251.97M on 9 Jan), while FBTC briefly printed a small inflow on 9 Jan (daily flows).

• A separate update similarly highlighted the shift in leadership of outflows across issuers during 89 Jan (weekly snapshot).

Conclusion

Outflows this week were led early by FBTC and GBTC, with additional redemptions in ARKB, HODL, and Grayscales Mini Trust, then rotated to IBIT later. The pattern points to issuer?level rebalancing and timing differences rather than a single, persistent seller across all BTC ETFs.