Bitcoin ETFs Post Biggest Daily Outflow Since June as Price Holds Near $82,000

Money flowed back out of U.S. spot bitcoin exchange-traded funds on Thursday, reversing a short run of strong buying.

The numbers

The funds recorded about $635.6 million in net outflows on Thursday, more than offsetting the roughly $528.4 million that came in on Wednesday, The Block reported. It was the largest single-day exit since June. BlackRock's IBIT accounted for about $254.1 million of the withdrawals, followed by Fidelity's FBTC at about $217.5 million and the Ark Invest and 21Shares fund at about $109.4 million. Morgan Stanley's fund was the lone gainer, adding about $2.3 million. Even after Thursday, the funds were still up about $442.7 million for the week.

Where the price stands

Bitcoin was about $81,970 at 9:49 a.m. ET Friday, up 0.3% on the day, according to Investing.com, still inside the $80,000 to $87,000 band it has held for about a month. Roughly $440 million in leveraged crypto positions were liquidated over the prior 24 hours, mostly bets on higher prices, The Block reported, citing CoinGlass data.

Why it matters

ETF flows have become one of the clearest gauges of institutional demand for bitcoin. The outflow came as a sell-off in technology shares spread across global markets, a reminder that bitcoin still tends to trade alongside tech stocks. Traders are watching whether the $80,000 area holds ahead of next week's Federal Reserve meeting.