US Spot Bitcoin ETFs See First Outflows in Nine Days

US spot Bitcoin ETFs experienced their first day of net outflows in over two weeks, halting a recovery trend that had significantly boosted cumulative flows. Data from Farside Investors shows the funds saw $148.7 million in net withdrawals on Sept. 30.

The reversal ended a nine-session streak that had attracted approximately $3.08 billion. Fidelity’s FBTC led the outflows with $125.6 million, followed by Bitwise’s BITB at $13.6 million and BlackRock’s IBIT at $9.5 million. The remaining nine funds reported no net movement.

Despite the single-day dip, September was a strong month for the products, which saw roughly $2.65 billion in inflows. This performance helped push 2026 net inflows to approximately $930 million, recovering from a period earlier in the year where flows were negative.

Cumulative lifetime flows are currently near $57.7 billion, leaving the products about $5 billion shy of the record $62.8 billion peak reached on Oct. 10, 2025. Following a midyear drawdown that saw cumulative flows drop to $50.9 billion by July 13, recent demand has helped narrow the deficit.

Bloomberg Intelligence analyst Eric Balchunas noted that the recent rebound was significant given the pressure the ETFs faced over the previous 11 months. He added that the recovery made the bearish case more difficult to maintain as Bitcoin prices continued to climb.

Whether the Sept. 30 outflow represents a temporary pause or the start of a new redemption cycle remains to be seen. Traders are looking to upcoming sessions to see if the selling pressure broadens across major issuers or if inflows resume.

Bitcoin was trading around $83,800 early on Oct. 1. ETF demand continues to serve as a key indicator for institutional appetite as the market watches to see if the funds can close the remaining $5 billion gap to their previous high-water mark.