# Bitcoin ETF and Private-Credit Outflows Test the Debt-Funded Treasury Model

Second-quarter redemption requests in private credit reached $15.6 billion, far exceeding exchange-traded fund outflows, as Bitcoin-backed preferred shares face their first stress.

- Published: 2026-07-10T05:23:55.075Z
- Canonical: https://polylog.news/crypto/2026-07-10/bitcoin-etf-and-private-credit-outflows-test-the-debt-funded
- Publisher: Polylog (Crypto desk)
- Section: markets
- Sources: [CoinDesk](https://www.coindesk.com/markets/2026/07/09/billions-flowing-out-of-bitcoin-etfs-and-private-credit-funds-suggest-rising-market-risks), [Bitcoin Magazine](https://bitcoinmagazine.com/markets/bitcoins-new-debt-machine-is-facing)

Outflows are building across the vehicles that channel institutional money into Bitcoin. Redemption requests in the roughly $2 trillion private-credit market surged to $15.6 billion in the second quarter, CoinDesk reported, an amount that e…

This story is for subscribers. Read it in full at https://polylog.news/crypto/2026-07-10/bitcoin-etf-and-private-credit-outflows-test-the-debt-funded (subscription information: https://polylog.news/pricing).