Investors withdrew from American Bitcoin exchange-traded funds at the conclusion of last week, bringing an end to a seven-day winning streak. Data indicates that more than $475 million was withdrawn from investment products during trading hours on Thursday and Friday, with BlackRock’s iShares Bitcoin Trust managing the majority of the trading activity. Risk appetite seemed to have returned as well: during a week-long span from July 14 to July 22, funds managed by prominent firms such as Fidelity, Morgan Stanley, and Greyscale attracted nearly $1 billion in new investments, totalling $999.3 million. The influx of new capital exerted upward pressure on the price of Bitcoin. The leading cryptocurrency then dipped on the outflows but is now unmoved over a seven-day period.
Bitcoin’s price recently stood at $64,544. Year-to-date, Bitcoin has declined by more than 26%, and the cryptocurrency has lost nearly 50% of its value since reaching a new peak of $126,080 in October. The ETFs — approved after nearly a decade of denials by the Securities and Exchange Commission in 2024 — have facilitated a significant increase in Bitcoin’s price, as institutional investors now possess a streamlined avenue for entering the cryptocurrency market. Despite the trend of investors withdrawing from significant cryptocurrency funds, the latest entrant, Morgan Stanley’s Bitcoin Trust, saw inflows approaching $9 million on Thursday and Friday.
The fund, which debuted in April, now has close to $400 million in assets under management — making it one of the most successful ETFs of 2026. While analysts have indicated that Bitcoin may have reached its lowest point, some have suggested that the prevailing uncertainty regarding conflict in the Middle East and increasing oil prices could impede the cryptocurrency’s potential for recovery. European asset management firm said earlier this month that while investors are back at putting fresh cash in Bitcoin ETFs, other factors may hold digital asset markets from going higher.