Bitcoin, Ethereum ETFs Lose $1B as Trump Shifts Greenland Stance

Investors withdrew nearly $1 billion from U.S. spot Bitcoin and Ethereum ETFs on Jan. 22, 2026, amid uncertainty over President Donald Trump’s shifting stance on acquiring Greenland and trade policy. The pullback followed Trump’s announcement on Truth Social of a “framework of a deal” for Greenland and the Arctic region after talks with NATO Secretary Mark Rutte, while he also backed away from threats of tariffs against European nations. The reversal eased market tensions after a sharp selloff on Jan. 21, though Danish Prime Minister Mette Frederiksen reiterated that sovereignty cannot be negotiated. Spot Bitcoin ETFs saw $709 million in outflows—the largest single-day drawdown since Nov. 20—while Ethereum ETFs lost $287 million, per CoinGlass. Bitcoin fell 7.5% to around $89,000, and Ethereum dropped 12% to $2,950 over the prior week, according to CoinGecko. Analysts note Bitcoin is behaving more like a risk-on asset than a store of value, with macro risks still elevated despite short-term stabilization. Coinbase’s withdrawal of support for a crypto market structure bill further dampened sentiment, though the White House maintains confidence in its passage.