US-listed spot Bitcoin ETFs recorded $225.2 million in net outflows on Thursday, ending a seven-session inflow streak that had drawn nearly $1 billion. The reversal came as Bitcoin slipped below $65,000 and, according to CoinGape, institutional money rotated toward US Treasuries.
US-listed spot Bitcoin exchange-traded funds broke their run, recording $225.2 million in net outflows on Thursday — their first negative day since July 13 and the end of a seven-session streak that had pulled in nearly $1 billion. Yet even after the reversal, the funds had still attracted about $274 million in net inflows this week as of Thursday.
Bitcoin slips below $65,000
The redemptions landed as Bitcoin briefly fell under $65,000 after US stocks dropped amid renewed tensions between the United States and Iran. The token traded at $65,403 at the time of publication after falling as low as $64,600, according to CoinGecko.
Sentiment weakened alongside the price. The Crypto Fear & Greed Index fell 3 points to 28 and stayed in “fear” territory on Friday, according to Alternative.me. Ether funds moved the other way, however, with US-listed spot Ether ETFs extending their inflow streak to five sessions and $26.3 million on Thursday.
Institutions rotate into Treasuries
CoinGape reported that BlackRock’s IBIT led the redemptions with a $202.5 million outflow, followed by Bitwise’s BITB and Fidelity’s FBTC, while Morgan Stanley’s MSBT drew $5 million in inflows. According to the same report, BTC dropped more than 3% over the last two days amid the US-Iran escalation and delays in passing the Clarity Act.
The outlet tied the shift to institutions moving capital into US Treasuries as the benchmark 10-year yield reached about 4.71%, one of its highest levels in 18 months. CoinGape said outflows may continue as investors rotate toward less risky assets such as bonds and gold.
Sources: Cointelegraph, CoinGape
Trading involves risk.
Risk Disclaimer
