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Everyone is asking where Wall Street's Bitcoin buyers went. I checked the ETF numbers.
In 2026 so far, $25.6B has gone into US spot Bitcoin ETFs. $26.1B has come out. That's minus $502M net as of November 5.
June alone saw $4.5B leave. The biggest monthly exit on record.
If it stays negative, 2026 becomes the first calendar year of net outflows since these funds launched in January 2024. They need more than $502M of net inflows in the last 8 weeks to avoid it. Bitcoin broke below $70K today.
Do the ETFs flip green by December 31?