Bitcoin ETFs Log First May Outflows as BTC Drops Under $80,000
US-listed spot Bitcoin ETFs had $277.5 million in outflows Thursday, ending a five-day inflow streak of nearly $1.7 billion as Bitcoin fell below $80,000.
US-listed spot Bitcoin exchange-traded funds recorded $277.5 million in net outflows on Thursday, ending a five-day inflow streak that totaled nearly $1.7 billion. The withdrawals coincided with Bitcoin slipping below $80,000 after a brief move above $82,000 earlier in the week, according to market data and fund flow trackers.
Fidelity’s Wise Origin Bitcoin Fund (FBTC) led Thursday’s redemptions with about $129 million leaving the fund, while BlackRock’s iShares Bitcoin Trust ETF (IBIT) saw roughly $98 million in outflows, based on SoSoValue and Farside data.
Not all products saw outflows. The Morgan Stanley Bitcoin Trust ETF (MSBT), the first U.S. bank-backed spot Bitcoin ETF, had $7.3 million of inflows on Thursday and has not reported a day of outflows since its April 8 debut, according to Farside. MSBT has accumulated 2,920 BTC, valued at about $232.6 million at current prices, and its assets under management for customers have grown roughly 557% since launch.
Grayscale’s low-cost spot product, the Grayscale Bitcoin Mini Trust ETF (BTC), also recorded inflows on Thursday, while other established funds experienced net redemptions.
Market sentiment indicators weakened alongside the ETF flows. The Crypto Fear & Greed Index fell to 38, a reading categorized as “Fear,” after briefly reaching “Neutral” the prior day. The index averaged 17 in April; Bitcoin has risen about 11% over the past 30 days.
Separately, the 21Shares Canton Network ETF (TCAN), the first U.S.-listed ETF offering direct exposure to Canton Coin, began trading on Nasdaq on Thursday and closed its debut session at $24.66, slightly below an initial price of $24.76. Canton Coin moved down about 1.7% and traded near $0.145 at the time of reporting.
Thursday’s flows illustrated uneven investor behavior across spot Bitcoin products, with recently launched funds continuing to attract assets while some established ETFs experienced redemptions.
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