Bitcoin ETF Outflows Reach $167M as Strongest 2026 Inflow Streak Cools

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US-listed spot Bitcoin ETFs recorded $120.2 million in net outflows on Wednesday, bringing the holiday-shortened week’s two-day total to $166.8 million after Tuesday’s $46.6 million in redemptions. The ARK 21Shares Bitcoin ETF led withdrawals with $78 million, followed by Grayscale’s Bitcoin Trust ETF and BlackRock’s iShares Bitcoin Trust ETF. Morgan Stanley’s Bitcoin Trust was the only fund to post inflows. The pullback erased roughly 4.4% of the $3.8 billion attracted during the funds’ strongest three-week stretch of 2026. Meanwhile, Ether ETFs rebounded with $34.7 million in inflows and Solana ETFs attracted $11.2 million, while Hyperliquid ETFs logged a second consecutive day of outflows. Bitcoin traded near $78,000.

Key Elements

Investor appetite for Bitcoin exchange-traded funds cooled markedly this week, with US-listed spot products posting back-to-back daily redemptions for the first time in nearly a month. Net withdrawals reached $120.2 million on Wednesday, adding to Tuesday’s $46.6 million of outflows and bringing the two-day total for the holiday-shortened week to $166.8 million, according to data from Farside Investors.

The pullback follows what had been the strongest three-week inflow stretch of 2026 for the category, raising questions about whether the reversal marks a short-term repositioning or the start of a more sustained shift in sentiment. The consecutive outflow days are the first since a three-session streak of redemptions concluded on Aug. 14.

Where the money left

The ARK 21Shares Bitcoin ETF (ARKB) dominated Wednesday’s withdrawals, shedding $78 million in a single session. Grayscale’s Bitcoin Trust ETF (GBTC) followed with $27.2 million in net outflows, while BlackRock’s iShares Bitcoin Trust ETF (IBIT) recorded $19.5 million in redemptions. Morgan Stanley’s Bitcoin Trust (MSBT) was the lone bright spot, attracting $4.5 million in fresh capital.

Over the two sessions, GBTC absorbed the heaviest losses with $92.7 million in cumulative net outflows. ARKB recorded $69.9 million in redemptions across Tuesday and Wednesday, while IBIT posted a more modest $8.8 million in net withdrawals during the same period.

Note: Figures reflect net flows reported by Farside Investors for the first two sessions of the holiday-shortened week.

The concentration of withdrawals in just three funds suggests the redemptions may reflect targeted reallocations rather than broad-based bearishness across the ETF complex. ARKB alone accounted for more than half of Wednesday’s total outflows, while the remaining majority of the gap was covered by GBTC and IBIT. MSBT’s modest inflow, though small in absolute terms, further complicates any narrative of uniform investor retreat.

Context matters

Despite the two-day decline, the broader picture remains one of significant accumulation. The $166.8 million in withdrawals erased roughly 4.4% of the $3.8 billion that flowed into Bitcoin ETFs during the three weeks preceding this pullback. Since their launch, these funds have accumulated approximately $55 billion in cumulative net inflows. However, the 2026 calendar year tells a different story: combined net flows for the year now stand at about $1.07 billion in outflows, according to Farside Investors data.

That contrast underscores why daily flow figures, even when they capture eye-catching sums, are best interpreted against the longer arc of accumulation and the year-to-date profile. A $167 million two-day withdrawal is notable on its own terms but represents a small fraction of the capital that has moved through these products since their inception.

Ether and Solana diverge

While Bitcoin ETFs faced redemptions, US spot Ether ETFs swung back to positive territory on Wednesday. The group attracted $34.7 million in net inflows, recovering from Tuesday’s $24.3 million in outflows and leaving the funds with $10.4 million in net inflows for the week. BlackRock’s ETHB led the rebound with $22.9 million, followed by its ETHA fund with $9.7 million. The 21Shares TETH fund added $2.1 million, while other Ether ETFs reported no meaningful flows.

Spot Solana ETFs also reversed course. After Tuesday’s outflow of roughly $700,000, the funds pulled in $11.2 million on Wednesday, bringing their two-session total to $10.5 million in net inflows. All of Wednesday’s inflows went to Bitwise’s BSOL fund.

Not every corner of the crypto ETF market participated in the rebound. Hyperliquid ETFs logged their second consecutive day of withdrawals, losing $5.3 million on Wednesday after a $13 million outflow on Tuesday. The week’s total outflow for those products now stands at $18.3 million.

Price backdrop

The mixed flow picture arrived against a backdrop of modestly lower spot prices. Bitcoin traded near $78,000 on Thursday, down from about $79,700 when the earlier three-week inflow figures were reported. Ether was priced around $2,470, while Solana hovered near $101

The divergence in flows across Bitcoin, Ether, Solana, and Hyperliquid products reinforces that investor behavior is not moving in a single direction across the crypto ETF landscape. For market participants who track fund flows as a sentiment indicator, the key question is whether Wednesday’s withdrawals represent a one-off repositioning or the beginning of a more durable trend.

Trading through the remainder of the holiday-shortened week will offer the next clues. The immediate test is whether Bitcoin ETFs can stabilize after two consecutive outflow sessions, and whether the renewed inflows into Ether and Solana products carry through into subsequent trading days.

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Source: finance.biggo.com