Felix Pinkston
May 08, 2026 10:15
Bitcoin ETFs reversed $277.5M inflows after BTC fell below $80K, ending a 5-day streak. Fidelity and BlackRock led outflows; Morgan Stanley remained resilient.
Bitcoin exchange-traded funds (ETFs) abruptly reversed a five-day inflow streak, logging $277.5 million in outflows on Thursday as Bitcoin (BTC) fell below the $80,000 mark. This comes after ETFs attracted nearly $1.7 billion in inflows over the previous week, according to SoSoValue data.
The Fidelity Wise Origin Bitcoin Fund (FBTC) and BlackRock’s iShares Bitcoin Trust ETF (IBIT) were hit hardest, registering outflows of $129 million and $98 million, respectively. The sudden shift coincided with heightened BTC volatility, as the cryptocurrency hit $82,000 on Wednesday before retreating below the $80,000 threshold the next day.
Morgan Stanley’s ETF Defies the Trend
Amid broader outflows, the Morgan Stanley Bitcoin Trust ETF (MSBT) showed resilience, recording a modest $7.3 million in inflows. The fund, which launched on April 8, 2026, has yet to experience a single day of outflows. Since its debut, MSBT has accumulated 2,920 BTC, valued at approximately $232.6 million, marking an impressive 557% growth in assets under management.
Grayscale also saw a slight boost, with its low-cost Grayscale Bitcoin Mini Trust ETF (BTC) reporting net inflows, contrasting with the broader sell-off in Bitcoin-focused funds.
Nasdaq Debut of Canton Network ETF
The ETF shake-up coincided with the Nasdaq debut of the 21Shares Canton Network ETF (TCAN), which provides exposure to Canton Coin, the native token of the Canton Network. TCAN ended its first trading session slightly lower at $24.66, down from its initial price of $24.76. Canton Coin itself slipped 1.7% to trade at $0.145, according to CoinGecko.
Market Sentiment Turns Fearful
Broader market sentiment reflected the turbulence, with the Crypto Fear & Greed Index dropping to 38 (“Fear”) on Friday, down from “Neutral” levels earlier in the week. Despite the pullback, the index remains significantly higher than April’s monthly average of 17, as Bitcoin has still gained around 11% over the past 30 days.
For investors, the recent ETF outflows underscore the ongoing volatility in crypto markets and the sensitivity of institutional products to Bitcoin’s price movements. Analysts will be closely watching whether Bitcoin can reclaim $80,000 or if further downside tests are imminent.
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