Crypto Funds Suffer Outflows as Quarter-End Rebalancing Takes Hold

Crypto funds experienced a sudden shift on September 30, 2026, as investors withdrew billions from Bitcoin and Ethereum funds. The $148.7 million outflow from U.S. spot Bitcoin (BTC) funds was largely driven by the Fidelity Wise Origin Bitcoin Fund (FBTC), which accounted for $125.6 million of the total.

This marked an end to a nine-day trend of inflows into Bitcoin funds, which had collected around $3.1 billion in September. Ethereum funds saw outflows of $59.6 million on the same day, while Solana funds lost $11.1 million.

Many institutional investors rebalance their portfolios at the end of each quarter to maintain target allocations. As Bitcoin rose about 36%, Ethereum gained about 57%, and Solana grew around 48% in September, managers holding these assets likely trimmed their crypto positions.