Bitcoin exchange-traded funds (ETFs) saw $143.3 million in outflows on Thursday, according to SoSoValue. While BlackRock’s iShares Bitcoin Trust ETF (IBIT) attracted $45.75 million in inflows, it wasn’t enough to offset the broader market sell-off.
BlackRock’s IBIT Stands Alone in Positive Territory
Among major Bitcoin ETFs, BlackRock’s IBIT was the only one to record inflows. However, this wasn’t sufficient to reverse the overall negative trend.
Meanwhile, Fidelity’s Wise Origin Bitcoin Fund (FBTC) led the outflows, losing over $75 million. The ARK 21Shares Bitcoin ETF (ARKB) also saw significant withdrawals, with investors pulling more than $60 million from the fund.
Bitcoin Price Drops as Stocks Struggle
Bitcoin is currently trading at $83,207, following a 7% decline over the past week. Broader financial markets are also under pressure, adding to Bitcoin’s struggles.
The S&P 500 has entered technical correction territory, while the Nasdaq-100 dropped nearly 2% on Thursday. Global trade tensions have fueled uncertainty, increasing pressure on both traditional stocks and cryptocurrencies.