Bitcoin ETFs see $277.5M in outflows as BTC slips below $80,000

U.S. spot Bitcoin ETFs recorded $277.5 million in net outflows on Thursday, ending a five-day inflow streak as Bitcoin (BTC) fell below the $80,000 level for the first time in a week.

The Fidelity Wise Origin Bitcoin Fund (FBTC) led the retreat with $129 million in outflows, the largest single-day redemption for the fund since late April. BlackRock’s iShares Bitcoin Trust (IBIT) followed with $98 million in outflows, according to data from SoSoValue. Every other Bitcoin ETF in the top ten by assets under management also posted either outflows or flat readings. The reversal ended a run of consecutive daily inflows that had drawn nearly $1.7 billion and pushed April’s aggregate to $2.44 billion, the strongest month for spot Bitcoin ETF flows in 2026. Combined spot Bitcoin ETF net flows for 2026 remain in positive territory, but Thursday’s session erased roughly a third of the week’s earlier gains.

The Morgan Stanley Bitcoin Trust ETF (MSBT) bucked the trend, attracting $7.3 million in fresh capital. Since its April 8 launch on the Nasdaq, MSBT has accumulated 2,920 BTC worth approximately $232.6 million and has yet to record a single day of net outflows. The Grayscale Bitcoin Mini Trust also posted modest inflows, in contrast to the sell-off across the other nine Bitcoin ETF products.

Bitcoin traded as low as $79,250 during the Thursday session after touching $82,000 a day earlier. It hovered near $79,800 at the time of writing, with a market capitalisation of $1.60 trillion. The Crypto Fear & Greed Index slid to 38 on Friday, returning to Fear territory after a brief move back to Neutral earlier in the week. The reading sits well above April’s monthly average of 17, when sentiment hit its lowest point during a protracted stretch of trade-war uncertainty.

Spot Ethereum ETFs tracked the same rotation, recording $104 million in net outflows on Thursday. None of the ten Ethereum funds registered a single dollar of inflows. It was the broadest risk-off session across the crypto ETF complex since the start of May and the first time since mid-April that every Ethereum product posted a simultaneous outflow or flat reading.

The outflows coincided with renewed doubts over the Iran ceasefire and a broader cooling in risk appetite after the April US jobs report failed to provide a positive catalyst. The shift in sentiment comes despite Bitcoin’s 11 per cent gain over the past 30 days, a rally in which the asset outperformed gold by 36 per cent on a relative basis since the Iran war began. The price action extends a pattern of sharp reversals and negative funding rates that has characterised BTC trading since late April.

Analysts will be watching whether Bitcoin can reclaim the $80,000 handle in the coming sessions. A failure to do so could test support near $78,500, a level last seen in early May. A recovery back above $82,000, the level from which Thursday’s sell-off accelerated, would indicate the five-day inflow streak was paused by profit-taking rather than broken by a shift in institutional conviction.