US-listed spot Bitcoin ($BTC) exchange-traded funds (ETFs) snapped a five-day inflow streak totaling nearly $1.7 billion as Bitcoin dipped below $80,000.
Bitcoin funds logged $277.5 million in outflows on Thursday, marking the first daily outflows in May, according to SoSoValue data.
Daily spot Bitcoin ETF flows since Friday. Source: SoSoValue
The Fidelity Wise Origin Bitcoin Fund (FBTC) led the outflows at $129 million, while BlackRock’s iShares Bitcoin Trust ETF (IBIT) followed with $98 million in outflows, according to Farside.
The sharp reversal in Bitcoin ETF flows came amid heightened Bitcoin volatility. Bitcoin rose above $82,000 on Wednesday before falling below the key $80,000 level the next day.
Morgan Stanley’s Bitcoin ETF remains resilient amid broader outflows
The Morgan Stanley Bitcoin Trust ETF (MSBT), the first spot Bitcoin ETF launched by a US bank, recorded modest inflows of $7.3 million on Thursday. The fund has not seen a single day of outflows since debut on April 8, 2026, according to Farside.
MSBT has so far accumulated 2,920 $BTC, worth around $232.6 million, growing assets held for its customers by 557% since launch.
Daily spot Bitcoin ETF flows by issuer (in millions of US dollars) since Friday. Source: SoSoValue
The only other Bitcoin fund to record inflows on the day was the Grayscale Bitcoin Mini Trust ETF ($BTC), a low-cost spot Bitcoin ETF offered by Grayscale alongside its Grayscale Bitcoin Trust (GBTC).
Canton Network ETF ends slightly lower on Nasdaq debut as token slips
The Bitcoin ETF outflows came alongside the Nasdaq debut of the 21Shares Canton Network ETF (TCAN), the first US-listed ETF designed to offer direct exposure to Canton Coin, the native utility token of the Canton Network.
TCAN began trading on Nasdaq on Thursday and closed its first session at $24.66, slightly down from an initial price of $24.76, according to Nasdaq data. Canton Coin slipped 1.7% on the day, trading at $0.145 at the time of writing, according to CoinGecko.
The Crypto Fear & Greed Index. Source: Alternative.me
The negative trend in crypto markets pushed the Crypto Fear & Greed Index into “Fear” on Friday at 38 after briefly returning to “Neutral” the previous day. The index is still significantly above April levels, when it averaged 17, as Bitcoin has risen about 11% over the past 30 days.
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