U.S. spot Bitcoin ETFs posted $225.2 million in net outflows on Thursday, snapping a seven-day inflow streak as renewed U.S.-Iran tensions dragged stocks lower. BlackRock's IBIT drove almost all of the exit, while Ether funds moved the other way and drew fresh money for a fifth straight day.
U.S.-listed spot Bitcoin ETFs shed $225.2 million on Thursday, ending a seven-session streak that had pulled close to $1 billion into the funds. An outflow means more investors cashed out than put money in, forcing a fund to sell some of its Bitcoin to cover redemptions.
It was the category's first negative day since July 13. Even so, the funds still closed roughly $274 million higher across the five sessions through Thursday.
BlackRock's IBIT led the exit
BlackRock's IBIT, the largest fund in the group, did almost all of the damage, shedding $202.5 million. Fidelity's FBTC, Bitwise's BITB, ARK 21Shares' ARKB, Franklin Templeton's EZBC and WisdomTree's BTCW all posted smaller losses, while Morgan Stanley's MSBT was the lone holdout, taking in $5 million.
That reversal followed a rough day on Wall Street. U.S. stocks fell as the U.S.-Iran military exchange pushed into its fifth month and kept oil prices elevated. Bitcoin briefly slipped under $65,000, touching $64,600, back under what traders call a death cross.
Sentiment slides toward fear
The Crypto Fear & Greed Index dropped three points to 28, its most fearful reading of the month. The recent inflow run had followed eight weeks that drained more than $8.2 billion from the same funds, a stretch CoinShares' James Butterfill described as the largest run of outflows the firm had ever recorded. Bloomberg Intelligence's Eric Balchunas has framed the cycle against gold ETFs' 22-year track record, predicting "two steps forward, one step back" for Bitcoin funds.
Ether ETFs went the other way. Spot Ethereum funds added $26.3 million, extending their own inflow streak to five days — a split that points to rotation within crypto rather than an exit from it. Bitcoin's next test comes at the Federal Reserve's July 28-29 meeting, where the rate decision could set the near-term macro tone.
Source: Decrypt
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