Bitcoin ETF flow totals mask crash signals as giant redemptions distort data in late January and early February 2026

On Jan. 30, 2026, U.S. spot Bitcoin ETFs recorded $509.7 million in net outflows, even as several individual funds still showed small inflows. In the days that followed, flows swung sharply between a $561.8 million net inflow on Feb. 2 and outflows of -$272.0 million and -$544.9 million on Feb. 3 and Feb. 4. The pattern illustrates how one or two large redemptions can dominate headline totals while smaller, persistent demand remains, and why traders should focus on dispersion across tickers rather than treating the aggregate number as a simple sentiment gauge.