U.S. spot Bitcoin ETFs have seen $1.1 billion in net outflows over three days, reversing the early gains of 2026. Despite this volatility, Bitcoin ETFs still control a significant portion of Bitcoin's market cap with $117.66 billion in assets, and trading volumes remain high, indicating active capital rotation rather than abandonment. Similar outflows occurred in Ethereum and XRP ETFs, while institutional interest grows with Morgan Stanley filing to launch new spot ETFs.