ChainCatcher report, according to The Block, Bernstein analysts stated that despite a cumulative net outflow of $2.6 billion from spot Bitcoin ETFs in 2026, the long-term case for Bitcoin as a store of value remains unchanged. Since the beginning of this year, combined net inflows into ETFs and corporate treasuries have reached approximately $12 billion (around $60 billion in 2025), with corporate treasuries serving as the primary driver. Glassnode data shows that 61% of the circulating Bitcoin supply has been idle for over a year. Corporate accumulation has been the main force offsetting ETF liquidations: Strategy has raised $7.5 billion through its STRC preferred stock product to acquire approximately 100,000 Bitcoin, and its $53 billion Bitcoin position can cover more than 30 times the annual $1.2 billion cash dividend payout of STRC. Analysts added that while Bitcoin inflows have slowed, capital is shifting toward infrastructure related to the tokenization of real-world assets (RWAs), with platforms like Hyperliquid seeing significant growth in trading volumes for tokenized equities and commodities.
Bernstein: Bitcoin ETFs Experience $2.6 Billion Net Outflow in 2026; Long-Term Value Storage Remains Unchanged
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Summary
Bernstein notes that Bitcoin ETFs experienced a $2.6 billion net outflow in 2026, but the case for Bitcoin as a long-term investment asset remains strong. Corporate treasuries continue to drive inflows, with ETFs and funds adding $12 billion year-to-date. Value investing in crypto is gaining momentum, as 61% of Bitcoin has been dormant for over a year. A strategy raised $7.5 billion to purchase 10,000 BTC, while capital flows into tokenized real-world assets are increasing.
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