Investors cashed out of American Bitcoin exchange-traded funds at the end of last week, ending a seven days winning streak.
Data from Farside Investors shows that over $475 million was redeemed from the investment products during trading hours on Thursday and Friday, with BlackRock’s iShares Bitcoin Trust handling most of the trading action.
Risk appetite appeared to be back, too: over a seven-day period, from July 14-22, the funds managed by the likes of Fidelity, Morgan Stanley, and Grayscale, took in just under $1 billion in new investment: $999.3 million.
The flurry of fresh cash put upwards pressure on the price of Bitcoin. The leading cryptocurrency then dipped on the outflows but is now unmoved over a seven-day period. Bitcoin’s price recently stood at $64,544.
Year-to-date, Bitcoin is down over 26% and the cryptocurrency has shed nearly 50% of its value since it notched a new record of $126,080 in October.
The ETFs — approved after nearly a decade of denials by the Securities and Exchange Commission in 2024 — have helped Bitcoin’s price surge as Wall Street investors now have an easy way to buy into the crypto space.
Despite investors cashing out of major crypto funds, the newest on the market, Morgan Stanley’s Bitcoin Trust, experienced inflows of nearly $9 million Thursday and Friday.
The fund, which debuted in April, now has close to $400 million in assets under management — making it one of the most successful ETFs of 2026.
While analysts have called Bitcoin’s bottom, some have said that uncertainty around war in the Middle East and rising oil prices may hold back the cryptocurrency making a rebound.
European asset management firm CoinShares said earlier this month that while investors are back at putting fresh cash in Bitcoin ETFs, other factors may hold digital asset markets from going higher.