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Demand for bitcoin exchange-traded funds (ETFs) in the US has seen a reversal, with a net withdrawal of $1.6 billion recorded across 12 products this month.
Data from Soso Value showed that this marked the third consecutive month of negative flows for exchange-traded fund products. During this period, the funds lost about $ 6 billion in flows.
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Bitcoin ETF demand reverses direction after three months of continuous selling
Meanwhile, explain that these monthly flows represent longer A series of losses The US SEC has since approved the products in January 2024.
Market watchers note that the continued flows indicate that… The demand for Bitcoin products has entered a period of sustained decline.
Cryptoquant data also confirmed the downward trend. The 12 Bitcoin funds have recorded a collective outflow of approximately 4,595 BTC since the beginning of 2026.
This year-to-date account highlights a significant change in investor sentiment compared to record flows in previous years. In reality, Attract btc products Almost 40,000 BTC during the same period last year.
Market watchers attributed this exit to “narrative saturation” that coincided with… Poor Bitcoin price performance.
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Record since the price reached an all-time high of more than $126,000 in October 2025, BTC price has fallen by more than 37%.
In view of this, Jim Bianco, founder of Bianco Research, explained that the period of rapid institutional adoption has reached its logical end.
Markets are discount mechanisms, Bianco said, they price the narrative long before the event takes place.
He noted that the transition of Bitcoin to traditional finance led to a growth of 400% from the initial order of 2023 until the political changes at the end of 2024.
However, he described the increase to $126,000 by the end of 2025 as a “zombie rally” driven by remaining momentum rather than new capital.
He said that the current state of apathy in the market is more evident due to the lack of response to traditional emerging titles.
For this reason, even positive developments for example Appoint officials who support digital currencies in economic positions It failed to ignite a market recovery.
Bianco noted that the “adoption story” is now fully priced into the market, returning Bitcoin to its status as an asset of high volatility and risk.
This change has left ETF investors facing the reality of a market that is currently mature but in decline.
