Spot Bitcoin ETFs traded in the United States have just experienced their largest 30-day net outflow since their launch. According to data compiled by Galaxy Research, a total of $6.35 billion exited these funds in the past month. This sharp outflow signals sustained selling pressure in major markets for Bitcoin-linked investment products and suggests that institutional investors are reducing their exposure to the cryptocurrency.
Record 30-day streak
The recent period of outflows ranked first among all 582 rolling 30-day windows tracked since U.S. spot Bitcoin ETFs debuted. This marks the steepest monthly net outflow on record for these products. While Galaxy Research notes this shift among institutional investors, the report clarifies that interest in digital assets persists, with new crypto investment vehicles continuing to launch in the market.
Galaxy Research is a U.S.-based research firm specializing in data-driven analysis of crypto markets, the blockchain ecosystem, and investment products.
According to Galaxy Research, U.S. spot Bitcoin ETFs have recorded net outflows for six consecutive weeks, and the $6.35 billion withdrawn over the last 30 days stands out as the largest monthly outflow to date.
Cumulative inflows take a hit
The research firm reports that spot Bitcoin ETFs have now seen net outflows for six straight weeks. As a result, cumulative net inflows—which peaked near $63 billion in October 2025—have dropped to $53.4 billion. In addition, daily outflow volumes have become increasingly pronounced.
Market analysts attribute this trend to a more cautious stance from institutions toward Bitcoin. However, some industry representatives point out that day-to-day fund flows do not always provide a comprehensive picture of institutional sentiment toward an entire asset class.
Contrasting perspective from BlackRock
Jay Jacobs, Head of U.S. Equity ETFs at BlackRock, cautions that ETF outflows should not be interpreted solely as a negative view on Bitcoin. Jacobs underscores that investors often reallocate assets to newer products or alternative funds with similar structures. He notes, for example, that recent flows may reflect transitions to newer offerings, such as the BlackRock iShares Bitcoin Premium Income ETF that was launched recently.
Jacobs points out that ETF outflows cannot be explained only by weak sentiment toward Bitcoin, as investors often rebalance allocations among similar products.
Jacobs also reaffirms BlackRock’s view of Bitcoin as a decentralized and global monetary asset, emphasizing that inflows and outflows are standard movements seen across all ETF categories.
Volatility persists as macro factors dominate
During this latest wave of ETF withdrawals, Bitcoin’s price demonstrated notable volatility. At the time of reporting, the cryptocurrency traded around $64,258, with a 24-hour trading volume of $27.48 billion. Bitcoin’s total market capitalization stood at approximately $1.29 trillion, representing a market dominance of 58.94%.
Over the past month, Bitcoin’s price has declined by roughly 17.4%. Analysts point to persistent high inflation and heightened geopolitical tensions between the United States and Iran as leading contributors to the recent downward pressure.
