US spot Bitcoin and Ether exchange-traded funds (ETFs) registered approximately $530 million in net outflows on Thursday, coinciding with a significant decline in cryptocurrency prices and broader equities.
Major outflows in Bitcoin and Ether ETFs
BTC ETFs posted roughly $430 million in net outflows, while Ether ETFs lost around $100 million, according to data compiled by SoSoValue. The withdrawals marked a sharp shift after combined inflows of $128 million the previous day, a period during which Bitcoin temporarily surpassed $80,000 following Democratic wins in the US midterm elections.
On Thursday, Bitcoin dropped back below $76,000. Meanwhile, the Nasdaq Composite tumbled 5.5%, its largest single-day percentage drop since April 2025, as reported by Reuters.
Fidelity’s Wise Origin Bitcoin Fund (FBTC) recorded the largest outflows among Bitcoin-focused ETFs, seeing approximately $200 million withdrawn after having added about $237 million the previous day, according to Farside Investors.
BlackRock’s iShares Bitcoin Trust (IBIT), a key product from the world’s largest asset manager, saw another $105 million in net outflows. This extended IBIT’s streak of consecutive daily outflows to five sessions, with total redemptions exceeding $1 billion since October 30. Year-to-date, spot Bitcoin ETFs in the US have now recorded net outflows of about $510 million.
| ETF | Thursday Outflow | Wednesday Inflow | Current Outflow Streak |
|---|---|---|---|
| Fidelity FBTC | $200 million | $237 million | 1 day |
| BlackRock IBIT | $105 million | N/A | 5 days |
| All BTC ETFs (total) | $430 million | N/A | N/A |
| All ETH ETFs (total) | $100 million | N/A | N/A |
Market analysts and investors respond
Crypto analyst Michaël van de Poppe commented on X that Bitcoin could potentially reach a short-term bottom on Friday, suggesting further declines may follow in the wake of the Nasdaq’s steep drop.
“I expect Nasdaq to bottom tomorrow. The same for Bitcoin, potentially after sweeping $75,000.”
Dean Lyulkin, CEO of Cardiff and founder of investment publication The Dean’s List, discussed the broader market landscape. He stated that the current environment differs from the conditions that led to the 2008 global financial crisis.
Lyulkin emphasized that Democrats’ control of Congress was not the trigger for the 2008 downturn. He pointed instead to the significance of the Federal Reserve’s already elevated interest rates and weakening real estate prior to the crash. Lyulkin noted that, despite current vulnerabilities in areas such as commercial real estate and private credit, household balance sheets and the banking sector are considerably stronger now than in 2008.
“The global financial crisis wasn’t caused by Democrats taking Congress,” Lyulkin remarked, adding that household and banking conditions today are much improved compared to the pre-2008 period.
Mini dictionary: Cardiff is a financial firm led by Dean Lyulkin, who also publishes The Dean’s List, a periodic investment newsletter providing analysis on financial markets and macroeconomic trends.
