Spot Bitcoin ETFs listed in the US saw a sharp reversal on Thursday, pulling out $225.2 million in net outflows and breaking a solid seven-day streak of inflows, according to data from SoSoValue. This outflow halted a period that had brought nearly $1 billion into these funds since mid-July.
Fluctuations Amid a Mixed Market
Despite Thursday's net redemptions, Bitcoin ETFs maintained a positive weekly net inflow of about $274 million through that day, showing that demand remains fairly strong. on July 21, they had a standout single-day inflow of around $226.9 million.
Bitcoin itself mirrored the ETFs’ volatility, dipping briefly below $65,000 to $64,600 before recovering to roughly $65,400 by publication. The drop came amid a broader market downturn fueled by renewed tensions between the US and Iran, as investors pared back on riskier assets both in traditional stocks and crypto.
Market sentiment also weakened, with the Crypto Fear & Greed Index slipping three points to 28, signaling continuing investor apprehension. Simon-Peter Massabni, XS.com’s Head of Business Development, mentioned earlier this week that Bitcoin needs to clear and hold above the $65,000 $65,500 range to confirm a sustainable upward trend. He also highlighted that recent ETF inflows appeared to ease selling pressure rather than mark a strong institutional rebound.
On the other hand, US-listed spot Ether ETFs defied this pattern, posting $26.3 million in net inflows on the same day, extending their streak to five consecutive days of gains. This divergence suggests investors are still channeling capital into Ether even as Bitcoin ETFs see withdrawals.
