diff --git a/src/bun.js/webcore/Blob.zig b/src/bun.js/webcore/Blob.zig
index 28056fd2e0..add5b8efe2 100644
--- a/src/bun.js/webcore/Blob.zig
+++ b/src/bun.js/webcore/Blob.zig
@@ -138,7 +138,7 @@ pub fn doReadFile(this: *Blob, comptime Function: anytype, global: *JSGlobalObje
         promise_value.ensureStillAlive();
         handler.promise.strong.set(global, promise_value);
 
-        read_file.ReadFileUV.start(handler.globalThis.bunVM().uvLoop(), this.store.?, this.offset, this.size, Handler, handler);
+        read_file.ReadFileUV.start(handler.globalThis.bunVM().eventLoop(), this.store.?, this.offset, this.size, Handler, handler);
 
         return promise_value;
     }
@@ -180,7 +180,7 @@ pub fn NewInternalReadFileHandler(comptime Context: type, comptime Function: any
 pub fn doReadFileInternal(this: *Blob, comptime Handler: type, ctx: Handler, comptime Function: anytype, global: *JSGlobalObject) void {
     if (Environment.isWindows) {
         const ReadFileHandler = NewInternalReadFileHandler(Handler, Function);
-        return read_file.ReadFileUV.start(libuv.Loop.get(), this.store.?, this.offset, this.size, ReadFileHandler, ctx);
+        return read_file.ReadFileUV.start(global.bunVM().eventLoop(), this.store.?, this.offset, this.size, ReadFileHandler, ctx);
     }
     const file_read = read_file.ReadFile.createWithCtx(
         bun.default_allocator,
diff --git a/src/bun.js/webcore/blob/read_file.zig b/src/bun.js/webcore/blob/read_file.zig
index 9b500b1d43..ba108ea6e9 100644
--- a/src/bun.js/webcore/blob/read_file.zig
+++ b/src/bun.js/webcore/blob/read_file.zig
@@ -523,6 +523,7 @@ pub const ReadFileUV = struct {
     pub const doClose = FileCloser(@This()).doClose;
 
     loop: *libuv.Loop,
+    event_loop: *jsc.EventLoop,
     file_store: FileStore,
     byte_store: ByteStore = ByteStore{ .allocator = bun.default_allocator },
     store: *Store,
@@ -543,10 +544,11 @@ pub const ReadFileUV = struct {
 
     req: libuv.fs_t = std.mem.zeroes(libuv.fs_t),
 
-    pub fn start(loop: *libuv.Loop, store: *Store, off: SizeType, max_len: SizeType, comptime Handler: type, handler: *anyopaque) void {
+    pub fn start(event_loop: *jsc.EventLoop, store: *Store, off: SizeType, max_len: SizeType, comptime Handler: type, handler: *anyopaque) void {
         log("ReadFileUV.start", .{});
         var this = bun.new(ReadFileUV, .{
-            .loop = loop,
+            .loop = event_loop.virtual_machine.uvLoop(),
+            .event_loop = event_loop,
             .file_store = store.data.file,
             .store = store,
             .offset = off,
@@ -555,15 +557,20 @@ pub const ReadFileUV = struct {
             .on_complete_fn = @ptrCast(&Handler.run),
         });
         store.ref();
+        // Keep the event loop alive while the async operation is pending
+        event_loop.refConcurrently();
         this.getFd(onFileOpen);
     }
 
     pub fn finalize(this: *ReadFileUV) void {
         log("ReadFileUV.finalize", .{});
+        const event_loop = this.event_loop;
         defer {
             this.store.deref();
             this.req.deinit();
             bun.destroy(this);
+            // Release the event loop reference now that we're done
+            event_loop.unrefConcurrently();
             log("ReadFileUV.finalize destroy", .{});
         }
 
diff --git a/test/regression/issue/26632.test.ts b/test/regression/issue/26632.test.ts
new file mode 100644
index 0000000000..112643b412
--- /dev/null
+++ b/test/regression/issue/26632.test.ts
@@ -0,0 +1,58 @@
+import { expect, test } from "bun:test";
+import { bunEnv, bunExe, tempDir } from "harness";
+
+// https://github.com/oven-sh/bun/issues/26632
+// Bun.file().text() on a non-existent file should throw ENOENT error, not silently exit
+test("Bun.file().text() on nonexistent file throws ENOENT", async () => {
+  using dir = tempDir("26632", {});
+
+  await using proc = Bun.spawn({
+    cmd: [bunExe(), "-e", `await Bun.file("nonexistent-file-that-does-not-exist.txt").text();`],
+    cwd: String(dir),
+    env: bunEnv,
+    stdout: "pipe",
+    stderr: "pipe",
+  });
+
+  const [stdout, stderr, exitCode] = await Promise.all([proc.stdout.text(), proc.stderr.text(), proc.exited]);
+
+  expect(stdout).toBe("");
+  expect(stderr).toContain("ENOENT");
+  expect(exitCode).not.toBe(0);
+});
+
+test("Bun.file().arrayBuffer() on nonexistent file throws ENOENT", async () => {
+  using dir = tempDir("26632", {});
+
+  await using proc = Bun.spawn({
+    cmd: [bunExe(), "-e", `await Bun.file("nonexistent-file-that-does-not-exist.txt").arrayBuffer();`],
+    cwd: String(dir),
+    env: bunEnv,
+    stdout: "pipe",
+    stderr: "pipe",
+  });
+
+  const [stdout, stderr, exitCode] = await Promise.all([proc.stdout.text(), proc.stderr.text(), proc.exited]);
+
+  expect(stdout).toBe("");
+  expect(stderr).toContain("ENOENT");
+  expect(exitCode).not.toBe(0);
+});
+
+test("Bun.file().bytes() on nonexistent file throws ENOENT", async () => {
+  using dir = tempDir("26632", {});
+
+  await using proc = Bun.spawn({
+    cmd: [bunExe(), "-e", `await Bun.file("nonexistent-file-that-does-not-exist.txt").bytes();`],
+    cwd: String(dir),
+    env: bunEnv,
+    stdout: "pipe",
+    stderr: "pipe",
+  });
+
+  const [stdout, stderr, exitCode] = await Promise.all([proc.stdout.text(), proc.stderr.text(), proc.exited]);
+
+  expect(stdout).toBe("");
+  expect(stderr).toContain("ENOENT");
+  expect(exitCode).not.toBe(0);
+});