The five-day inflow of about $1.7 billion into US-listed spot Bitcoin (BTC) ETFs came to a stop when Bitcoin dropped below $80,000. On Thursday, $277.5 million left Bitcoin funds, marking the first daily outflow of the month according to data compiled by SoSoValue.
Investor Sentiment Cools
Outflows from the top two funds in terms of capital leaving were $129 million from the Fidelity Wise Origin Bitcoin Fund (FBTC) and $98 million from BlackRock’s iShares Bitcoin Trust ETF (IBIT), as reported by Farside. The inflows into Bitcoin exchange-traded funds (ETFs) underwent a sea change as Bitcoin’s volatility rose. Bitcoin skyrocketed beyond $82,000 on Wednesday, but it fell short of the important $80,000 level the next day.
Morgan Stanley Bitcoin Trust ETF (MSBT), the first spot Bitcoin ETF launched by a US bank, had modest inflows of $7.3 million on Thursday. There have been no days of withdrawals from the fund since its launch on April 8, 2026, according to Farside.
Since its launch, MSBT has acquired 2,920 BTC, worth about $232.6 million, an increase of 557% in customer assets. Only two Bitcoin funds received inflows on that day: the flagship product, Grayscale Bitcoin Trust (GBTC), and the low-cost spot Bitcoin ETF, Grayscale Bitcoin Mini Trust ETF (BTC).
The Crypto Fear & Greed Index went into “Fear” on Friday at 38 after briefly reclaiming “Neutral” the day before due to the crypto market drop. Because Bitcoin’s value has increased by 11% in the last 30 days, the indicator is still much higher than its average of 17 in April.