Bitcoin ETFs see $636 million exit, erasing previous day's gains

Net outflows reverse Bitcoin ETF gains

U.S. spot Bitcoin ETFs recorded $635.6 million in net outflows on Thursday. This withdrawal erased the $528.4 million in net inflows the funds had accumulated the previous day. According to data compiled by The Block, this marked the largest daily outflow for these products since June.

While the daily figure was negative, the total for the week remained positive. Bitcoin ETFs have seen a net gain of $442.7 million so far this week. This includes inflows of $526.7 million on Monday, $23.2 million on Tuesday, and $528.4 million on Wednesday.

Which funds led the withdrawals

BlackRock’s iShares Bitcoin Trust (IBIT) saw the largest drop, with $254.1 million in net outflows. Fidelity’s FBTC followed with $217.5 million in withdrawals, and Ark Invest/21Shares' ARKB lost $109.4 million. Bitwise’s BITB and Grayscale’s GBTC also experienced net outflows.

Morgan Stanley’s MSBT was the exception, adding $2.3 million to its fund. The remaining Bitcoin ETFs posted zero flows for the day. Since launching in April 2026, Morgan Stanley’s ETF has recorded only one day of net outflows.

Other crypto ETFs also face outflows

U.S. spot Ethereum ETFs returned to net outflows on Thursday, with $110.6 million exiting the funds. This reversed the $14.9 million added the day before. Solana and Hyperliquid ETFs also saw net outflows. In contrast, XRP funds added $3.6 million, bucking the broader trend of withdrawals.

Market context and analyst views

Bitcoin’s price dropped 3.4% in the past day, falling to around $81,500. This decline coincided with a sell-off in technology stocks, with the Nasdaq Composite recording its worst session since June. At least $440 million in leveraged crypto positions were liquidated over the past 24 hours.

Lorris Beziers, a senior DeFi analyst at Tesseract Group, noted that the previous inflows were a sign of continued demand. He warned that if those inflows fade and Bitcoin breaks below the $80,000 floor, the demand picture would weaken. Jeff Anderson of STS Digital said the move should not be over-interpreted, as Bitcoin remains closely tied to tech stocks. Nick Forster of Derive observed that traders have increased exposure to year-end upside while reducing spending on crash protection.

Sources

• The Block