DWF Labs released a report stating that for the first time since their launch, U.S. spot Bitcoin ETFs recorded a net outflow of funds over a half-year period, with approximately $5.4 billion in net outflows in the first half of 2026. Previous half-year periods had all maintained net inflows. The report pointed out that between May 15 and June 3, spot Bitcoin ETFs saw net outflows for 13 consecutive trading days, setting a record for the longest outflow streak. BlackRock's IBIT had total net redemptions of about $5 billion in May and June, shifting from the largest source of fund inflows to a source of outflows. Meanwhile, U.S. spot Ethereum ETFs also recorded their first half-year net outflow in the first half of 2026, with net outflows of approximately $1.47 billion. The report suggests that the fund flows reflect a cooling demand for allocation to crypto assets. Although some funds shifted to ETH ETFs supporting staking yields, the overall trend remains focused on reducing exposure to crypto assets.