US spot Bitcoin ETFs end nine day inflows

U.S. spot Bitcoin exchange-traded funds recorded $148.7 million in combined net outflows on Wednesday, bringing a nine-session buying streak to an end after the products attracted $3.1 billion in fresh capital, according to ETF flow data. The reversal interrupted one of the group’s stronger stretches in 2026 and came after the recent inflows returned the funds’ year-to-date net flows to positive territory.

Fidelity’s Wise Origin Bitcoin Fund, trading under the ticker FBTC, accounted for most of the withdrawals with $125.6 million in net outflows. BlackRock’s iShares Bitcoin Trust, IBIT, posted $9.5 million in outflows, ending its own nine-day inflow run that had brought in $1.6 billion. Bitwise’s BITB lost $13.6 million, while the other U.S. spot Bitcoin ETFs recorded no net daily change.

A single day of withdrawals does not erase the scale of recent demand. Since their January 2024 debut, the U.S. spot Bitcoin ETF group has accumulated more than $57 billion in net inflows and manages more than $100 billion in assets, according to ETF tracker data. The products have added $970 million on a net basis so far this year.

Recent inflows had narrowed the gap to the record

The nine-day buying run had pulled the group closer to its historical high-water mark for cumulative net flows. Even after the recent recovery, the funds remain roughly $5 billion below their cumulative-flow peak reached on Oct. 10 last year, according to figures cited by Bloomberg ETF analysts Eric Balchunas and James Seyffart.

That gap places Wednesday’s outflows in perspective. The withdrawals were meaningful relative to a single trading session, but represented a small fraction of the nearly $3.1 billion collected during the preceding nine days. The result points to a pause in demand rather than evidence, by itself, of a sustained reversal in institutional use of the funds.

IBIT’s modest $9.5 million withdrawal was also far smaller than the capital it absorbed during its nine-day inflow streak. BlackRock’s fund has often been a major driver of daily Bitcoin ETF flows, so the end of its run will likely draw attention from traders tracking whether the broader group resumes inflows in the coming sessions.

FBTC’s $125.6 million outflow carried more weight on Wednesday because it represented the overwhelming majority of the group’s total withdrawals. With most competing funds showing zero flows, activity was concentrated in a handful of products rather than spread across the entire ETF market.

Morgan Stanley fund passes 10,000 Bitcoin

Morgan Stanley’s newest Bitcoin ETF, MSBT, crossed 10,000 BTC in assets under management for the first time last week, according to the fund’s official page. The fund launched in April and remains a newer entrant in a market led by larger products such as IBIT and FBTC.

Crossing that threshold gives MSBT a more visible footprint in Bitcoin terms, although its holdings remain small compared with the largest U.S. spot funds. Fund asset totals can change through both market-price movements and creation or redemption activity, meaning the Bitcoin-denominated figure does not solely measure fresh cash entering the product.

The ETF market has become one of the clearest public indicators of demand for regulated Bitcoin exposure in the United States. Daily flows show whether authorized participants are creating new ETF shares to meet demand or redeeming shares as holders reduce positions. They do not identify every underlying buyer or seller, nor do they provide a complete picture of activity across Bitcoin’s global spot and derivatives markets.

Ethereum ETFs also turn negative

U.S. spot Ethereum ETFs posted $59.6 million in combined net outflows on Wednesday, extending their losing run to two sessions. Fidelity’s Ethereum Fund, FETH, accounted for $26.6 million of that total, according to ETF flow data.

The Ethereum products had previously logged seven consecutive days of inflows totaling $850 million. Since beginning trading in July 2024, spot Ethereum ETFs have received around $14 billion in cumulative net inflows, based on tracker data.

The synchronized outflows from Bitcoin and Ethereum funds suggest Wednesday’s weakness was not confined to one asset or one issuer. Yet the scale differed substantially: Bitcoin ETF withdrawals were more than twice those of the Ethereum group, and Fidelity products led the daily redemptions in both categories.

Bitcoin trades near $84,000 as rate expectations shift

Bitcoin traded in a choppy range near $84,000 on Wednesday after a softer-than-expected reading of the Personal Consumption Expenditures index, the Federal Reserve’s preferred inflation gauge. Pricing data showed Bitcoin ended September with a 6.4% monthly gain and traded near $83,950 on Thursday.

The inflation release reduced expectations of another Federal Reserve rate increase in October, though policy uncertainty remained in market pricing. The CME FedWatch Tool showed a 62% probability that the central bank would leave rates unchanged at its October meeting, compared with a 38% probability of an increase.

Treasury yields remained another closely watched variable for crypto markets. The U.S. 10-year Treasury yield reached 5.34%, while the yield rose more than 11% during September, according to the figures provided. Higher government-bond yields can raise the appeal of lower-risk fixed-income assets and tighten financial conditions, a backdrop that has often affected demand for risk-sensitive assets including Bitcoin.

Wednesday’s ETF figures therefore arrive after a powerful inflow recovery but amid a market still recalibrating around interest-rate expectations. The next several daily fund reports will show whether the $148.7 million withdrawal was a short-lived interruption or the start of a more persistent slowdown in demand for spot Bitcoin ETF exposure.