Bitcoin ETFs are $5 billion away from a new flow record after a brutal 11-month reset

US spot Bitcoin exchange-traded funds (ETFs) recorded their first daily outflow in more than two weeks, interrupting a recovery that had pushed cumulative flows close to a record.

The funds posted $148.7 million of net withdrawals on Sept. 30, ending nine consecutive positive sessions that brought in about $3.08 billion, according to Farside Investors.

Fidelity’s FBTC drove most of the reversal, with $125.6 million in outflows. Bitwise’s BITB lost $13.6 million, and BlackRock’s IBIT shed $9.5 million, while the other nine listed funds recorded no net flows.

Despite the setback, September remained strongly positive. The products attracted about $2.65 billion during the month, their strongest monthly flow this year behind August's $3.52 billion.

Meanwhile, the positive September flow brought 2026 net inflows to roughly $930 million after much of the year was spent underwater.

The recovery has also brought lifetime cumulative flows back toward their previous high. Bloomberg Intelligence data show the products peaked at about $62.8 billion in cumulative inflows on Oct. 10, 2025, before months of redemptions erased much of that progress.

By July 13, the cumulative drawdown from that peak had reached about $12 billion, leaving lifetime flows near $50.9 billion. Fresh demand since then has narrowed the deficit considerably, with cumulative flows recovering to around $57.7 billion by late September.

That leaves the products roughly $5 billion short of their previous high-water mark.