Bitcoin ETFs recorded $148.69 million in outflows on Wednesday, ending a nine-session inflow streak worth roughly $3 billion. Fidelity’s FBTC accounted for $125.58 million of the withdrawals, followed by Bitwise’s BITB at $13.63 million and BlackRock’s IBIT at $9.48 million. No bitcoin fund posted an inflow. Trading volume reached $2.36 billion, while net assets closed at $107.98 billion. Selling also hit ether ETFs, which lost $59.58 million for a second straight session, as well as solana, zcash and HYPE products. XRP ETFs had no net flows. Bitwise’s NRR, the newly launched NEAR ETF, was the only major crypto ETF category to finish higher, drawing $14.04 million and lifting net assets to $52.79 million. Bloomberg ETF analysts Eric Balchunas and James Seyffart have highlighted a longer-term recovery in bitcoin ETF demand. Balchunas said cumulative lifetime flows are nearing their previous high-water mark despite a difficult past 11 months, while Seyffart said bitcoin ETFs are positive for 2026 but remain roughly $5 billion below their October 2025 peak. The next sessions will help determine whether Wednesday’s outflows reflect routine profit-taking or a deeper cooling in institutional demand.