US-listed crypto exchange-traded funds (ETFs) were hemorrhaging money on Thursday, snapping a two-week streak of consistent inflows.
The 11 bitcoins ETFs recorded net outflows of $536.4 million as investors pulled $56.8 million from ether ETFs.
Data curated by SoSoValue shows that BlackRock’s iShares Bitcoin Trust (IBIT) saw $29 million in outflows on the day, while Fidelity’s FBTC lost $132 million. Grayscale’s converted GBTC product lost $67 million, with smaller issuers such as Bitwise and VanEck also recording redemptions.
The pullback caps a volatile fortnight in which bitcoin fell from its $126,000 highs amid leveraged liquidations, structural problems with Binance’s data feeds and renewed trade tensions between the US and China.
Analysts at Citi said the drawdown revealed bitcoin’s growing equity sensitivity. At the same time, Glassnode described the sale as a “necessary reset” after one of the largest futures deleveraging events ever.
Unchained’s latest report adds that ETF options activity has reshaped how flows behave, turning what was once a stable source of demand into a mechanism that now tracks changes in market sentiment.
Despite the volatility, Citi reiterated its year-end target of $133,000 for bitcoin, citing resilient ETF participation despite the pullback, a target on which prediction markets tend to agree.
