Update
DWF Labs: Bitcoin ETF Flows Reflect Previous Price Movements
DWF Labs analyzed US spot Bitcoin ETF flows and found that daily net inflows and outflows mostly reflect earlier price movements, not future returns. In the first half of 2026, Bitcoin ETFs recorded $5.4 billion in net outflows, marking the first negative half-year since the products launched in January 2024. BlackRock's IBIT ETF accounted for 99.6% of April inflows, leading to $5 billion in net outflows across May and June. The update highlights the concentration of inflows in BlackRock's IBIT ETF and the impact on the overall Bitcoin ETF category.