Spot Bitcoin exchange-traded funds recorded their first daily outflow in more than two weeks on September 30, ending a nine-session streak that had drawn roughly $3.08 billion in net inflows, according to Farside Investors. Fidelity’s FBTC accounted for $125.6 million of the $148.7 million withdrawn, while Bitwise’s BITB lost $13.6 million and BlackRock’s IBIT shed $9.5 million; the remaining nine funds showed no net movement. September still posted about $2.65 billion in inflows, the strongest monthly total of the year after August’s $3.52 billion, pushing 2025 cumulative inflows to roughly $930 million and lifting lifetime cumulative flows toward $57.7 billion. Bloomberg Intelligence data indicate the products peaked at $62.8 billion in cumulative inflows on October 10, 2025, before a series of redemptions reduced that figure to about $50.9 billion by July 13. Subsequent inflows narrowed the gap, bringing cumulative flows to $57.7 billion by late September. The $5 billion shortfall from the previous high-water mark remains the next target for the funds. Analyst Eric Balchunas noted that the rebound had been notable given the 11-month pressure on Bitcoin ETFs, with flows returning to levels reminiscent of earlier strength despite Bitcoin’s exposure to higher yields and lingering negative sentiment. The September 30 outflow was concentrated in Fidelity’s fund, while most of the complex recorded no movement, making the next few sessions pivotal. A broader wave of redemptions across major issuers would signal weakening momentum, whereas renewed inflows would suggest the recent recovery is merely pausing. Bitcoin traded around $83,800 early October 1, keeping ETF demand as a key gauge of institutional interest near current price levels.