Bitcoin ETFs experienced outflows during seven of eight major selloffs since January 2024

A DWF Labs report found that US spot Bitcoin ETFs consistently lost money during market declines of at least 15% since their January 2024 launch, while attracting inflows during all nine major rallies. Investors withdrew a record $8.2 billion during Bitcoin's 28.8% decline between May and June 2026, and $6.9 billion during the October 2025 to February 2026 downturn. This suggests institutional flows reinforce existing price trends, despite selloffs becoming slower and less frequent.