$BTC Bitcoin ETFs Just Hit Their First REAL Stress Test
This is the moment everyone was waiting for. U.S.-listed Bitcoin ETFs are finally under pressure — and the numbers matter. After peaking at $72.6B in net inflows in October 2025, ETFs have now seen $6.1B exit, pulling total holdings down to $66.5B. That’s an 8.4% drawdown from the all-time high.
Why is this significant? Because until now, ETF flows were almost one-directional. This is the first real test of institutional conviction during a meaningful pullback. Weak hands get exposed here. Strong hands prove themselves.
So far, the damage is controlled — not a collapse. That suggests ETFs aren’t panic-selling, but adjusting risk as volatility returns. How this resolves will shape the next leg of Bitcoin’s market structure.
Is this just a healthy reset… or the start of a deeper shakeout?
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