US-listed spot Bitcoin exchange-traded funds ended a seven-session run of positive flows on Thursday, posting their first day of net outflows since July 13, according to data from SoSoValue.
The Numbers
Spot Bitcoin ETFs recorded $225.2 million in net outflows on Thursday, reversing a streak that had pulled in nearly $1 billion across the prior seven trading sessions. Despite the single-day reversal, the funds had still accumulated approximately $274 million in net inflows for the week as of Thursday.
What Drove the Shift
The outflow coincided with Bitcoin briefly dipping below $65,000 after US stocks sold off amid renewed tensions between the United States and Iran. At the time of the report on Thursday, Bitcoin was trading at $65,403, having touched an intraday low of $64,600, according to CoinGecko. As of Saturday, that softness had persisted, with Bitcoin trading near $64,300 and holding below the $65,000 level.
Market sentiment also softened. The Crypto Fear and Greed Index dropped 3 points to 28 on Friday, keeping it firmly in ‘fear’ territory, according to Alternative.me.
Ether ETFs Hold Steady
While Bitcoin ETFs stumbled, US-listed spot Ether ETFs continued their own positive run, extending an inflow streak to five consecutive sessions. Ether funds attracted a net $26.3 million on Thursday, according to SoSoValue.
