Bitcoin ETF flows show longest outflow period ever

The spot Bitcoin ETFs are facing tough times. According to a new report from DWF Labs, the funds have seen net outflows for three consecutive quarters, marking the longest sustained outflow period in the history of the Bitcoin spot ETF market. Cumulative outflows now stand at $6.6 billion from the peak, while Ethereum ETFs are barely attracting fresh institutional interest. The Bitcoin price stands at $67K at the time of writing, a decline of 5.7% in the past 24 hours.

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Three quarters of outflows from Bitcoin ETFs

The data, sourced from Farside Investors and summarised by DWF Labs, reveals a striking pattern. After strong inflows in 2024, with several months seeing more than $4 billion in capital, the picture shifts in 2025. January 2025 in particular stands out as a notably weak month with over $3 billion in outflows. That negative trend continues into 2026.

As previously reported about Bitcoin ETF outflows in May, 2026 has so far been characterised by caution among investors. Cumulative inflows over the entire period from January 2024 to May 2026 still exceed $60 billion, but the downward movement of the past three quarters is clearly drawing analysts’ attention.

Stablecoins thrive while ETFs struggle

While institutional investors are retreating from the spot ETF market, DWF Labs paints a very different picture for stablecoins. The global stablecoin velocity reaches a record level of 49.7x on an annualised basis. According to the report, that growth is primarily driven by practical use, such as payments for remittances and business transactions between companies or towards consumers.

This contrast is striking: while ETFs are struggling with capital flight, the daily use of stablecoins is growing rapidly. For Ethereum, the picture is equally bleak on the ETF side. The funds linked to Ethereum are failing to attract new institutional money, further increasing pressure on the sector. Whether this is a temporary correction or the start of a structural shift remains an open question for now.