Spot Bitcoin ETF Demand Slows Down in 2026: Here's Why

Spot Bitcoin exchange-traded funds are set for a fourth consecutive month of net outflows as Bitcoin approaches a fifth negative monthly close in February. Fund balances have contracted and rolling net-flow metrics look bearish relative to competing asset ETFs.

Net assets in US spot Bitcoin ETFs peaked near $170 billion in October 2025 and sit at $84.3 billion, while cumulative net inflows have fallen to roughly $54 billion from a $63 billion high; since July 2025 cumulative net flows have totaled just $5 billion. Tracker Axel Adler Jr.

logged seven sessions between Feb. 12 and Feb. 19 that produced net ETF outflows totaling 11,042 BTC, with Feb. 12 the largest single-day reduction at 6,120 BTC (about $416 million). Only two sessions were positive, and Adler noted three consecutive positive sessions would be needed to confirm renewed accumulation.

United States

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