Bitcoin ETF inflows slow down, with the best inflow record in 2026 stopping at $167 million

U.S. spot bitcoin ETFs suffered a wave of redemptions, with a net outflow of US$166.8 million in the first two days of this week.

According to data from Farside Investors, US-listed spot bitcoin exchange-traded funds (ETFs) were redeemed again on Wednesday, with a total net outflow of US$120.2 million. This followed an outflow of $46.6 million in this category on Tuesday. In the first two trading days of the shortened holiday week, cumulative divestments have reached $166.8 million.

The correction was mainly due to ARK21 Shares 'Bitcoin ETF (ARKB), which led Wednesday's outflow list with $78 million in redemptions. Grayscale's Bitcoin Trust ETF (GBTC) followed closely with a net outflow of $27.2 million;BlackRock's iShares Bitcoin Trust ETF (IBIT) recorded a withdrawal of $19.5 million. The only Bitcoin ETF to achieve inflows that day was Morgan Stanley's Bitcoin Trust (MSBT), which increased net inflows by $4.5 million.

Key Points

• The Bitcoin Spot ETF recorded a net outflow of US$120.2 million on Wednesday, bringing the total divestments to US$166.8 million on the two days of this week.
• ARKB was the main source of outflow, withdrawing US$78 million in a single day, while GBTC and IBIT combined contributed an additional US$46.7 million in outflow.
• The Ethereum Spot ETF rebounded on Wednesday after experiencing an outflow on Tuesday, recording a net inflow of US$34.7 million.
• The Solana Spot ETF reversed Tuesday's outflow trend and attracted US$11.2 million on Wednesday, with inflows mainly concentrated in Bitwise's BSOL products.

Bitcoin ETF adjusts after strong momentum

Wednesday's outflow marked a brief shift in investors positioning themselves behind the fund's recent momentum. Tuesday's $46.6 million outflow was the first time that the category has seen two consecutive days of net redemptions since a three-day losing streak in outflows ended Aug. 14, according to the data cited.

Looking back at the two-day window, GBTC accounted for the largest share of losses, with net outflows reaching US$92.7 million between Tuesday and Wednesday. During the same period, ARKB and IBIT recorded net redemptions of $69.9 million and $8.8 million, respectively.

Despite the pullback, the broader context remains critical in assessing whether these outflows are reversed or suspended. The two-day declines erased 4.4% of the approximately $4.4 billion, which was attracted during what Farside Investors described as the "strongest three weeks of 2026."

Since its launch, Bitcoin ETF has accumulated cumulative net inflows of approximately US$55 billion. However, based on reports from Farside Investors, consolidated net flows since 2026 are approximately US$1.07 billion in outflows. This comparison highlights why even huge daily fluctuations should be interpreted in the context of long-term accumulation and year-to-date traffic profiles.

Source distribution of outflows

Flow directions by ETF show a clear pattern: Most of Wednesday's divestments were concentrated in a few funds. ARKB's US$78 million outflow accounted for more than half of the day's total, with most of the remaining gap being filled by GBTC and IBIT.

MSBT was the exception, with an increase of $4.5 million, but this offset only a small portion of net redemptions across the category. For traders and portfolio managers, this divergence may indicate a short-term reconfiguration within ETFs rather than a uniform negative sentiment across all access points.

Wednesday's data continued Tuesday's broader category outflows. Tuesday and Wednesday together constituted a net withdrawal of $166.8 million in the first two trading days of the week-an important checkpoint in assessing whether previous inflows have completely exhausted or whether investors are simply slowing the pace of distribution during the shortened holiday calendar.

Ethereum ETF resumes inflows;Solana turns to net buy

When the Bitcoin ETF pulled back, the U.S. spot Ethereum ETF resumed net inflows on Wednesday. The Ethereum ETF attracted $34.7 million that day, after recording a $24.3 million divestment on Tuesday, bringing the group's net inflow to $10.4 million this week.

BlackRock's ETHB led the inflow, reaching US$22.9 million, followed by ETHA's US$9.7 million. 21Shares 'TETH fund increased by $2.1 million, while the remaining Ethereum ETF recorded no net flow.

The Solana ETF also reversed Tuesday's outflow dynamics. After a divestment of about $700,000 on Tuesday, the funds attracted $11.2 million in funding on Wednesday. This brought its combined net inflow to $10.5 million for the two days, and all of Wednesday's inflows went into Bitwise's BSOL products.

However, not all Solana-related products have participated in the broader backlash. The Hyperliquid ETF reported a net outflow for the second consecutive trading day, losing $5.3 million on Wednesday, following a $13 million outflow on Tuesday. These redemptions pushed the Hyperliquid ETF's total outflow this week to $18.3 million.

Price background: Cryptocurrency fell slightly, ETF flows diverged

Mixed ETF results came as spot cryptocurrency prices fell slightly compared to the early period mentioned in the report. According to CoinGecko data, Bitcoin traded around $78,000 on Thursday, down from about $79,700 when three-week inflow data was previously reported. Ethereum costs about $2,470, while Solana hovers around $101.

This combination-Bitcoin's ETF outflows coexisting with new inflows from Ethereum and Solana-strengthens the view that investor behavior is not moving in one direction across the market. For readers who monitor fund flows as a sentiment barometer, the key will be tracking whether Wednesday's divestment was a one-time reallocation or the beginning of a more sustained trend.

As trading continues into the rest of the week, the next signal to watch is whether the Bitcoin ETF can stabilize after two consecutive days of outflows and whether the continuity of Ethereum's inflows on Wednesday will continue into subsequent trading days with Solana's rebound.