Bitcoin ETFs: $3.1B Inflow Streak Comes to a Sudden End

American Bitcoin ETFs have just broken a streak of nine consecutive sessions of inflows. On September 30, the funds recorded 148.7 million dollars in net outflows. Fidelity accounts for most of the withdrawals with 125.6 million dollars. The reversal comes after a sequence that attracted over 3 billion dollars to Bitcoin in less than two weeks.

Bitcoin loses its streak of nine positive sessions

The sequence began on September 17. Six sessions later, Bitcoin ETFs had already attracted more than 2.8 billion dollars. It finally lasted until September 29. The next day, the direction changed. US-listed spot Bitcoin ETFs recorded 148.7 million dollars in net outflows on September 30. Fidelity is leading the move: its FBTC lost 125.6 million dollars.

Bitwise follows with 13.6 million dollars withdrawn from BITB. Even BlackRock slips slightly into the red. Its IBIT ETF shows 9.5 million dollars in outflows.

The other major funds remained neutral for the day. The contrast with previous sessions is clear. On September 29, the ETFs still received 66.2 million dollars. The day before, about 31 million had entered the products. The series ends just before the start of October. Nine days. More than 3 billion dollars injected. Then 149 million withdrawn in one session.

Fidelity accounts for almost all of the outflow

The overall figure might give the impression of a widespread withdrawal by investors. This is not really what the data shows. Of the 148.7 million dollars withdrawn on Wednesday, Fidelity represents about 84% of the total. BlackRock lost only 9.5 million dollars and most other ETFs recorded no net movement.

The market had already experienced much tougher sessions in September. On September 15, Bitcoin ETFs suffered 450.4 million dollars in outflows. Fidelity had already led the withdrawals with 214.8 million dollars.

A few days were enough to completely reverse the trend. On September 21, the ETFs then attracted nearly 999 million dollars in a single session. Then 714.7 million the next day, 347 million on Wednesday, and 190.6 million on Thursday.

The pace was already slowing down. On Friday, September 25, inflows had dropped to 134.5 million dollars. Monday and Tuesday added about 31 and 66 million respectively. The outflow on September 30 thus does not come out of nowhere.

Bitcoin ETFs remain largely positive over the sequence

A day with 149 million dollars in withdrawals does not erase the billions that arrived earlier. Bitcoin ETFs attracted about 2.4 billion dollars during the week ending September 25, their best weekly performance since October 2025. This surge even allowed the cumulative flows of 2026 to return to positive territory.

The reversal is spectacular when looking a few months back. In July, the annual ETF balance still showed about 5.8 billion dollars in outflows.

Bitcoin then regained institutional demand. This type of movement is not new. Early September already, Bitcoin ETFs recorded their best streak of the year, with nearly 3.8 billion dollars collected in three weeks. The 148.7 million dollars of September 30 thus ends a series. Not the institutional flows accumulated since mid-September. The coming days will mainly show whether Fidelity has simply undergone a large redemption session or if other funds are beginning to follow. For Bitcoin, the difference will be significant.