Investors pulled more than $475 million out of American Bitcoin exchange-traded funds on Thursday and Friday, ending a seven-day winning streak that had drawn in $999.3 million. Bitcoin dipped on the redemptions but is now unmoved over a seven-day period, standing at $64,544. Morgan Stanley's trust was the exception, taking in cash while the rest of the field bled it.
Investors cashed out of American Bitcoin exchange-traded funds at the end of last week, ending a seven-day winning streak. Data from Farside Investors shows that over $475 million was redeemed from the investment products during trading hours on Thursday and Friday, with BlackRock's iShares Bitcoin Trust handling most of the trading action.
But the days before ran the other way. Over the seven-day period from July 14-22, the funds managed by the likes of Fidelity, Morgan Stanley, and Grayscale took in just under $1 billion in new investment: $999.3 million.
Bitcoin ends the round trip where it started
The flurry of fresh cash put upwards pressure on the price of Bitcoin, which then dipped on the outflows but is now unmoved over a seven-day period. Bitcoin's price recently stood at $64,544.
Year-to-date, Bitcoin is down over 26%, and the cryptocurrency has shed nearly 50% of its value since it notched a new record of $126,080 in October.
The funds won approval after nearly a decade of denials by the Securities and Exchange Commission in 2024. Those ETFs have helped Bitcoin's price surge, as Wall Street investors now have an easy way to buy into the crypto space.
Morgan Stanley's trust takes in cash
Despite investors cashing out of major crypto funds, the newest on the market, Morgan Stanley's Bitcoin Trust, experienced inflows of nearly $9 million Thursday and Friday. The fund, which debuted in April, now has close to $400 million in assets under management, making it one of the most successful ETFs of 2026.
Analysts point to war and oil
While analysts have called Bitcoin's bottom, some have said that uncertainty around war in the Middle East and rising oil prices may hold back the cryptocurrency making a rebound. European asset management firm CoinShares said earlier this month that while investors are back at putting fresh cash in Bitcoin ETFs, other factors may hold digital asset markets from going higher.
Source: Bitcoin Magazine
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