Investors pulled roughly $475 million from American Bitcoin ETFs during Thursday and Friday last week, breaking a nearly week-long streak of gains. The data, provided by Farside Investors, highlights that BlackRock's iShares Bitcoin Trust was at the center of most trading activity.
Interestingly, this came after the funds collectively attracted close to $1 billion in fresh investment between July 14 and 22. Major financial players including Fidelity, Morgan Stanley, and Grayscale contributed to the inflows that put upward pressure on Bitcoin's price over that period.
Bitcoin's price hovered around $64,544 recently, neither gaining nor losing much over the seven-day stretch. Still, Bitcoin remains down more than 26% year-to-date and has lost nearly half its value since its record $126,080 peak last October.
ETF Impact and Market Factors
These ETFs, approved by the SEC in 2024 after years of denials, have made it easier for Wall Street investors to access Bitcoin. Though big funds saw redemptions last week, Morgan Stanley’s Bitcoin Trust, which launched in April, attracted almost $9 million in inflows in the final two trading days. It now manages nearly $400 million, ranking it among the top-performing ETFs of 2026.
Despite some analysts suggesting Bitcoin has hit a bottom, uncertainty persists. Geopolitical tensions in the Middle East and rising oil prices may dampen any strong recovery for the cryptocurrency in the near term. European firm CoinShares recently noted that while investors return to Bitcoin ETFs, external factors could hinder further gains in digital assets.
