Spot Bitcoin ETFs in the US are bleeding out. $6.35 billion in net outflows over the past 30 trading days — the worst month on record for the products that were supposed to be the big institutional on-ramp.
Galaxy Research says the outflows have now stretched across six straight weeks. Cumulative net flows have dropped from $63 billion in October 2025 to $53.4 billion today, and daily outflows are still getting worse. Nobody’s stepping in to buy the dip.
What’s driving it? Take your pick: US inflation is back above 4%, the US-Iran conflict is rattling every risk asset on the planet, and Bitcoin itself is down 17.4% over the past month, hovering around $64,167. When the macro picture looks this ugly, institutions don’t stick around to find out what happens next.
BlackRock’s Jay Jacobs pushed back on reading too much into daily flow numbers. He’s got a point — some of this is just rotation between products, like moving from IBIT to BlackRock’s new income-focused BITA ETF. And he’s not wrong that every asset class has rough patches. BlackRock runs over 450 ETFs; they’ve seen volatility before.
But six weeks of deepening outflows isn’t just noise. If this continues, it means institutions are actively repricing their crypto allocations — not rotating, not waiting, just leaving. The next few weeks should tell us which story this really is.
Originally reported by Cointelegraph. Rewritten and published by The Coolest Info.
