Key Takeaways
- • U.S. spot bitcoin ETFs recorded $635.6 million in net outflows on Thursday, their largest daily withdrawal since June, reversing $528.4 million of inflows posted Wednesday.
- • BlackRock's IBIT led redemptions with $254.1 million, followed by Fidelity's FBTC at $217.5 million and Ark Invest/21Shares' ARKB at $109.4 million, according to The Block.
- • Morgan Stanley's MSBT, launched in April, was the lone notable gainer with $2.3 million in inflows.
- • Despite Thursday's reversal, weekly net flows remain positive at $442.7 million, and the funds have drawn more than $57 billion in cumulative net inflows since January 2024 with over $100 billion in assets under management.
- • Bitcoin fell to around $81,500 on Friday, down 3.4% over 24 hours, as a tech-led sell-off spread to Asian equities; analysts are watching the $80,000 level as a key support floor.
Summary
U.S. spot bitcoin exchange-traded funds recorded $635.6 million in net outflows on Thursday, according to data compiled by The Block. The withdrawals were the largest single-day outflows for the products since June and more than offset the $528.4 million in inflows recorded on Wednesday.
BlackRock's IBIT led the redemptions with $254.1 million, followed by Fidelity's FBTC at $217.5 million and Ark Invest/21Shares' ARKB at $109.4 million. Bitwise's BITB and Grayscale's GBTC also saw net outflows. Morgan Stanley's MSBT, which launched in April and had recorded only one prior day of net outflows, was the exception, posting $2.3 million in inflows.
Despite the Thursday reversal, weekly flows remain positive at $442.7 million, supported by inflows of $526.7 million on Monday, $23.2 million on Tuesday and $528.4 million on Wednesday. Since launching in January 2024, the funds have collectively attracted more than $57 billion in net inflows and now hold over $100 billion in assets under management.
Before the reversal, Tesseract Group senior DeFi analyst Lorris Beziers said the next test was whether inflows would persist while bitcoin held the $80,000 to $81,000 range, warning that "if inflows fade and that floor breaks, the demand picture has weakened."
Bitcoin slid to around $81,500 on Friday, down 3.4% over the past day, as a Wall Street sell-off spread to Asian equities amid weak tech earnings and concerns over AI spending. The Nasdaq Composite closed down 2.6% on Thursday, its worst session since June. Jeff Anderson, head of U.S. at STS Digital, said bitcoin remains closely tied to tech stocks, adding that "$80K/$86K being the recent channel" is the range to watch for a breakout. Derive founder Nick Forster said the platform's implied odds of bitcoin topping $100,000 by Christmas rose from 9.7% to 12% over the past week, while the probability of a drop below $70,000 fell from 15.6% to 11%.
BlackRock's IBIT led the redemptions with $254.1 million, followed by Fidelity's FBTC at $217.5 million and Ark Invest/21Shares' ARKB at $109.4 million. Bitwise's BITB and Grayscale's GBTC also saw net outflows. Morgan Stanley's MSBT, which launched in April and had recorded only one prior day of net outflows, was the exception, posting $2.3 million in inflows.
Despite the Thursday reversal, weekly flows remain positive at $442.7 million, supported by inflows of $526.7 million on Monday, $23.2 million on Tuesday and $528.4 million on Wednesday. Since launching in January 2024, the funds have collectively attracted more than $57 billion in net inflows and now hold over $100 billion in assets under management.
Before the reversal, Tesseract Group senior DeFi analyst Lorris Beziers said the next test was whether inflows would persist while bitcoin held the $80,000 to $81,000 range, warning that "if inflows fade and that floor breaks, the demand picture has weakened."
Bitcoin slid to around $81,500 on Friday, down 3.4% over the past day, as a Wall Street sell-off spread to Asian equities amid weak tech earnings and concerns over AI spending. The Nasdaq Composite closed down 2.6% on Thursday, its worst session since June. Jeff Anderson, head of U.S. at STS Digital, said bitcoin remains closely tied to tech stocks, adding that "$80K/$86K being the recent channel" is the range to watch for a breakout. Derive founder Nick Forster said the platform's implied odds of bitcoin topping $100,000 by Christmas rose from 9.7% to 12% over the past week, while the probability of a drop below $70,000 fell from 15.6% to 11%.
Go deeper than the headline
Research every firm in this story, track the ones that matter and get the daily briefing — free for 7 days.