U.S. spot Bitcoin exchange-traded funds recorded $225.18 million in net outflows on Thursday, breaking a seven-session run of inflows. The move pushed total net assets for the Bitcoin ETF category below $80 billion for the first time in weeks. Meanwhile, spot Ether ETFs posted $26.32 million in net inflows on the same day, marking their second anniversary since launch.
A reversal after seven days of gains
Thursday's outflow ended the longest winning streak for spot Bitcoin ETFs since late June. The previous seven sessions had brought in a combined $1.2 billion, according to data from the funds' issuers. The sudden reversal caught some market participants off guard, though no single catalyst was immediately apparent from the filings.
Ether ETFs hit two-year mark
Spot Ether ETFs turned two years old on Thursday, and investors marked the occasion with $26.32 million in net inflows. That brought the total net inflows for the category to roughly $1.8 billion since launch. The funds have seen steady, if modest, demand compared to their Bitcoin counterparts, but Thursday's showing was the largest single-day inflow in about three weeks.
Bitcoin ETF assets dip below $80B
The outflows dragged total net assets for U.S. spot Bitcoin ETFs under $80 billion, a level they had held above since early July. The decline reflects both the Thursday redemptions and a slight drop in Bitcoin's price during the session. The funds now hold about 1.1 million BTC in aggregate, down from a peak of 1.15 million earlier this month.
What the next trading day brings
Friday's flow data will be the first test of whether Thursday was a one-day blip or the start of a broader trend. The seven-day streak had been fueled by a mix of institutional allocations and retail FOMO, but outflows of this magnitude haven't been seen since mid-June. No major macroeconomic events are scheduled for the rest of the week, so the market's attention will be on the next batch of ETF numbers due after the close.
