Bitcoin ETFs See $6 Billion Exit as Institutional Demand Cools
US spot Bitcoin ETFs have seen $1.6 billion in net withdrawals this month, marking three consecutive months of outflows totaling $6 billion.Summary
Demand for US-listed spot Bitcoin ETFs has reversed, resulting in $1.6 billion in net withdrawals this month, extending the streak of negative flows to three consecutive months, with total outflows reaching approximately $6 billion since the products were authorized in January 2024. Data from CryptoQuant shows a significant downtrend, with the 12 Bitcoin funds experiencing an exodus of about 4,595 BTC year-to-date, contrasting sharply with the nearly 40,000 BTC inflows during the same period last year. Market observers attribute this decline to "narrative exhaustion" coinciding with Bitcoin's lackluster price performance, as BTC has fallen over 37% from its October 2025 all-time high of over $126,000. Jim Bianco of Bianco Research suggests the rapid institutional adoption narrative is now fully priced in, characterizing the recent rally as a "zombie rally" driven by residual momentum, implying Bitcoin is reverting to its status as a high-volatility risk asset.
(Source：BeInCrypto)