Bernstein: Bitcoin inflows slow sharply in 2026 as investors chase AI

Bitcoin inflows have slowed sharply in 2026 as retail investors rotate into AI-related assets, Bernstein said. ETF outflows total about $2.6 billion this year from a $75 billion asset base, while bitcoin treasury companies and ETFs drew about $12 billion of inflows, down from $60 billion in 2025, according to CoinDesk, with most new demand coming from corporate buyers led by Strategy (MSTR). Bernstein said BTC’s recent weakness reflects softer capital flows, not quantum-computing fears, and argued a broader ownership base supports its store-of-value thesis.