U.S.-listed crypto exchange-traded funds (ETFs) saw outflows on Thursday, ending a second consecutive week of consistent inflows.
11 bitcoins BTC$106,956.43 The ETF recorded net outflows of $536.4 million as investors withdrew $56.8 million from the Ether ETF.
BlackRock’s iShares Bitcoin Trust (IBIT) recorded $29 million in outflows on the day, while Fidelity’s FBTC lost $132 million, according to data curated by SoSoValue. Grayscale’s converted GBTC products shed $67 million, and smaller issuers such as Bitwise and VanEck also recorded redemptions.
The reversal capped a volatile two weeks in which Bitcoin fell from a high of $126,000 on the back of leveraged liquidations, structural issues with Binance’s data feed, and a flare-up in U.S.-China trade tensions.
Citi analysts said the drawdown revealed Bitcoin’s heightened equity sensitivity. At the same time, Glassnode described the decline as a “necessary reset” following one of the largest futures deleveraging events in history.
Unchained’s latest report adds that ETF options activity is reshaping flow behavior, 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 for Bitcoin of $133,000, a target that prediction markets tend to agree with, citing the resilience of ETF participation despite the pullback.
