Recent data shows that in 2026, the U.S. spot Bitcoin ETF has experienced net outflows for several consecutive weeks: • From November 2025 to February 2026, a total outflow of approximately $6.3 billion, with $3.5 billion flowing out in November alone (BTC sharply retreated from its all-time high of $126,272, triggering institutional profit-taking). • In March, there was a brief return to positive inflows, recording $1.32 billion in net inflows, but this was not enough to offset the $1.81 billion outflow in the previous quarter. • In May, there were six consecutive days of outflows totaling about $1.26 billion, and in the first half of June, there were still records of consecutive net outflows (such as a single-day net outflow of approximately $19.03 million on June 11, marking the fifth consecutive day). • The total net inflow for 2026 has shrunk to only about $536 million, far below the level of 2025 [Zipmex] [Bitbo] [Yahoo Finance].