U.S. spot Bitcoin exchange-traded funds recorded approximately $268.5 million in net outflows during Thursday’s trading session, reversing a five-day inflow streak as Bitcoin fell below the $80,000 level amid broader crypto market weakness. According to data from Farside Investors, the outflows marked the largest single-day withdrawal from spot Bitcoin ETFs in nearly two weeks.
BlackRock’s iShares Bitcoin Trust (IBIT) led the outflows with approximately $98 million withdrawn during the session. Fidelity’s FBTC posted roughly $129 million in net redemptions, while Grayscale’s GBTC lost approximately $26.8 million. ARK 21Shares Bitcoin ETF recorded outflows of about $12.6 million, and Bitwise’s BITB saw roughly $10 million exit the fund.
The only notable positive flows came from smaller products. WisdomTree’s BTCW added approximately $7.3 million, while Grayscale’s Bitcoin Mini Trust recorded around $5.7 million in inflows.
The reversal followed several sessions of strong institutional buying earlier in the week. Spot Bitcoin ETFs had previously attracted approximately $467.3 million in inflows on May 5, following $532.3 million on May 4 and $629.8 million on May 1. Analysts said the abrupt shift likely reflected profit-taking and rising risk aversion after Bitcoin’s recent rally stalled near resistance levels above $82,000.
Bitcoin traded below $80,000 during Thursday’s session after briefly touching intraday lows near $79,700. The broader cryptocurrency market also weakened, with Ethereum, Solana and XRP posting losses as traders reduced leveraged exposure across derivatives markets.
Bitcoin ETF Momentum Reverses After Strong Inflow Streak
The latest outflows interrupted one of the strongest inflow periods for spot Bitcoin ETFs since February. Over the previous five trading sessions, U.S. Bitcoin ETFs had accumulated more than $1.9 billion in net inflows as institutional investors increased allocations following improving sentiment around crypto regulation and stablecoin legislation.
BlackRock’s IBIT continued to dominate ETF activity despite Thursday’s outflows. The fund remains the largest spot Bitcoin ETF by assets under management and cumulative inflows since launch. According to Farside data, IBIT has accumulated more than $66 billion in total inflows, substantially ahead of competing products.
Market analysts said ETF flows remain one of the most important indicators of institutional sentiment within digital asset markets. Since the launch of U.S. spot Bitcoin ETFs, daily fund flows have increasingly influenced short-term price action, market liquidity and broader crypto market positioning.
The pullback also coincided with rising geopolitical tensions involving Iran and broader uncertainty across risk markets. Analysts noted that crypto assets have recently shown increased sensitivity to macroeconomic developments and geopolitical headlines, particularly during periods of elevated leverage within derivatives markets.
Despite Thursday’s outflows, analysts said institutional demand for Bitcoin exposure remains structurally strong. Several market observers pointed to continued inflows over recent weeks and rising ETF assets under management as evidence that large investors continue viewing Bitcoin as a long-term allocation vehicle rather than a short-term speculative trade.
Ethereum ETFs Continue Attracting Institutional Interest
While Bitcoin ETFs experienced significant outflows, Ethereum ETFs continued to attract modest institutional demand. According to ETF flow trackers and market reports, spot Ethereum ETFs recorded positive net inflows during the session, extending a recent trend of improving institutional interest in Ether-related products.
Analysts attributed improving Ethereum sentiment partly to the successful rollout of the network’s Pectra upgrade and growing institutional interest in tokenization and decentralized finance infrastructure built on Ethereum. The network has also benefited from expanding adoption tied to stablecoins and tokenized real-world assets.
Market participants said Ethereum ETF flows remain materially smaller than Bitcoin products but have shown signs of stabilizing after months of weaker institutional demand. According to SoSoValue data cited in recent reports, Fidelity’s FETH has recently led Ethereum ETF inflows among U.S. issuers.
Even with Thursday’s Bitcoin ETF outflows, analysts said the broader trend of institutional participation in crypto markets remains intact. Market strategists noted that ETF-driven capital flows are likely to remain a dominant force shaping crypto price action as traditional financial institutions continue expanding digital asset exposure through regulated investment products.