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Bitcoin Briefly Erases Gains Posted Since the Start of the Year
Bitcoin briefly erased all of its gains registered since the start of the year, with investors remaining on the defensive following only the third year of negative annual returns posted over the past decade.
The original cryptocurrency rebounded from the lows of the day after President Donald Trump said the US would refrain from imposing tariffs on goods from European nations opposing his effort to take possession of Greenland, citing a “framework of a future deal” he said was reached regarding the island. Trump has sent financial market tumbling at the start of the week after he repeatedly attempted to coerce Europe over Greenland.
The fading confidence can best be shown in the flows out of exchange traded funds following the selloff across global financial markets amid the ongoing geopolitical tensions. Data compiled by Bloomberg shows that investors withdrew approximately $490 million from around a dozen US-listed Bitcoin ETFs on Tuesday.
BitGo Is Said to Price US IPO at $18 Per Share, Above Range
BitGo Holdings priced its initial public offering at $18 per share, above the marketed range, according to people familiar with the matter, Bloomberg reported.
The cryptocurrency firm and some of its backers sold 11.8 million shares in the offering, the people said, asking not to be identified as the information isn’t public. The shares were marketed for $15 to $17 each.
The IPO was multiple times oversubscribed, Bloomberg News reported earlier.
Daily Crypto Liquidations Hit $1 Billion as Bitcoin Rebounds Following Trump Tariff Retreat
US President Trump has a habit of moving markets with his words, and he appears to have done that yet again Wednesday, prompting large swings across both crypto and stock markets—with the daily volatility generating over $1 billion worth of crypto liquidations in the process.
Bitcoin recently rebounded above $90,000 again after falling to nearly $87,000 just hours earlier, with the rebound coming after Trump said in Davos that he would no longer issue new tariffs against European countries after meeting with the head of NATO. The price of Bitcoin has since settled to $89,574, as of this writing.
“Based upon a very productive meeting that I have had with the Secretary General of NATO, Mark Rutte, we have formed the framework of a future deal with respect to Greenland and, in fact, the entire Arctic region,” Trump wrote on his own Truth Social platform.
BlackRock Touts Ethereum's Potential as the Primary Network for Tokenized Assets
BlackRock recognized Ethereum’s dominance in tokenization on Wednesday, dedicating a portion of its 2026 thematic outlook to the network’s potential grip on Wall Street.
Pondering whether Ethereum could become the “toll road” to blockchain-based markets, the report stated that Ethereum “could be poised to benefit” from a shift spurring moves across legacy financial institutions, from DTCC to the New York Stock Exchange.
Ethereum currently underpins 65% of tokenized assets, according to the report. Meanwhile, the adoption of stablecoins is outpacing spot crypto trading volumes, suggesting that “tokenized assets may have a use-case outside of purely speculative trading.”
Bitcoin & Ethereum Spot ETF Flow
The overall net outflow of the US Bitcoin spot ETF on Wednesday was $708.71 million. The total net asset value of Bitcoin spot ETFs is $116.48 billion, and the ETF net asset ratio (market value compared to total Bitcoin market value) is 6.46%.
The Bitcoin spot ETF with the highest net outflow on January 21 was iShares Bitcoin Trust (IBIT), with a net outflow of $356.64 million, according to SoSoValue.
Source: SoSoValue
The overall net outflow of the US Ethereum spot ETF on Wednesday was $286.95 million. The total net asset value of Ethereum spot ETFs is $18.29 billion, and the ETF net asset ratio (market value compared to total Ethereum market value) is 5%.
The Ethereum spot ETF with the highest net inflow on January 21 was iShares Ethereum Trust ETF (ETHA), with a net inflow of $250.27 million, according to SoSoValue.
Source: SoSoValue