Bitcoin ETF Investors Show Diamond Hands—Just $6.5B Outflow Since Early October

Bitcoin ETF investors have handled the market dip maturely, as the funds have only recorded meager outflows since the start of the dip.

Their maturity is particularly commendable, given that they are new to the volatility associated with Bitcoin (BTC). Compared to the inflows the investment funds have recorded since their January 2024 market entrance, selloffs have been moderate, reinforcing their confidence in Bitcoin’s long-term price trajectory.

Key Points

• Bitcoin ETF investors have handled the market dip maturely, as the funds have only recorded meager outflows since the start of the dip.
• Amid the 50% downturn, they have remained largely composed, selling only $6.5 billion in BTC, especially compared with their hefty $55 billion inflows.
• Data shows that the past four months have been rough, with over a billion flowing out from the funds in each of the past three months.
• The tides might be turning following a third consecutive day of inflow, surpassing $1 billion.

ETF Investors HODL Bitcoin

NovaDius Wealth president Nate Geraci took to X on Friday to commend Bitcoin investors’ diamond-handed attitude. Amid the 50% downturn, they have remained largely composed, selling less of their holdings, especially when compared with their hefty inflows.

The industry leader pointed out that since Bitcoin topped in October 2025 after hitting an ATH of $126,200, the funds have recorded only $6.5 billion in outflows. While this may be huge in dollar terms, Geraci spotlighted that this is a “drop in the bucket” compared to the $55 billion taken in since January 2024.

Notably, the US Bitcoin spot ETFs had an impressive start to life, bringing in billions in inflows in days. Despite early selling pressure from the Grayscale Bitcoin Trust (GBTC), the broader BTC-focused inflows weathered the storm, driven by persistent inflows from BlackRock and Fidelity.

While the funds have seen mixed periods, the trend has generally been favorable. Recall that the BlackRock iShares Bitcoin Trust (IBIT) ranked as one of the most successful ETF launches in history, contributing massively to the Bitcoin ETFs’ success.

Bitcoin ETFs Inflow Stall, but Some Positives

Data from Sosovalue shows that the past four months have been rough. In November, the ETFs recorded a net outflow of $3.48 billion, selling back all the BTC it bought the prior month.

Meanwhile, the poor run of form has persisted, with outflows of $1.09 billion in December, $1.61 billion in January, and currently a total net outflow of $179 million in February.

Geraci suggested that the tides might be turning following a third consecutive day of inflow, surpassing $1 billion. If the ETFs record a similar daily inflow to yesterday’s on Friday, the funds will completely reverse the current monthly flow drawdown.

ETF investors remaining resilient is also another positive. Long-term BTC investors have experienced 50% drawdowns several times from their exposure to the premier asset, but these enthusiasts are largely new to such events. Instead of panicking, recent activity suggests they are buying the dip.

Resilience: The Right Theme 

Bloomberg’s senior ETF analyst Eric Balchunas also weighed in on the discussion. He emphasized that, instead of the misreported focus on the over $6 billion in outflows, the main theme should be how these new investors have shown resilience following the 50% price drop.

Thank you. I’ve been harping on this. As an ETF watcher you know just how absurd this strength amid a 50% drawdown. This is the real story, vs focusing on the $6b that came out, which most stories do. Further, the narrative that crypto is ‘paying the price’ for getting…

— Eric Balchunas (@EricBalchunas) February 27, 2026

Balchunas also discussed the narrative that crypto is suffering from its exposure to the traditional financial markets. According to him, new capital worth $55 billion received from regulated Bitcoin spot products in the US “is the opposite of paying the price.”