
Spot Bitcoin ETFs experienced $5.4 billion in net outflows during the first half of 2026, marking the first negative period since their 2024 launch. This reversal follows two years of strong inflows totaling $56.6 billion. The decline is linked to Bitcoin's price drop and competition from AI-related investments drawing institutional funds away. The trend, especially notable in BlackRock's IBIT fund, raises questions about whether this is a temporary correction or a lasting shift in institutional Bitcoin investment strategies.