Cumulative net inflows across US spot Bitcoin ETFs have settled around $55 billion, down from roughly $63 billion at the October 2025 peak but above a trough near $50 billion. Buying intensified in late August and early September 2026, when approximately $3.8 billion entered the products over about three weeks and briefly lifted total assets under management above $101 billion. The momentum reversed in mid-September, with net outflows of $296 million on September 15 and $450 million on September 16. The ETFs collectively hold around 649,000 BTC, while their net asset values fluctuate between approximately $95 billion and $103 billion with Bitcoin’s price. BlackRock’s iShares Bitcoin Trust, or IBIT, remains the leading product, with reported cumulative inflows above $63 billion, followed by Fidelity’s FBTC. Grayscale’s GBTC has recorded more than $27 billion in cumulative net outflows since converting from a closed-end trust to an ETF, as investors exited positions previously held at discounts to net asset value and shifted toward lower-fee alternatives such as IBIT and FBTC. Data from Farside Investors and SoSoValue show substantial volatility since the January 11, 2024 launch, with accumulation periods followed by sharp redemptions. The October 2025 peak coincided with strong Bitcoin performance, while the subsequent decline reflected profit-taking and a shift in sentiment; the rebound to $55 billion suggests buyers have returned.