Bitcoin’s price tumbled under the $80,000 mark on Thursday, coinciding with a significant shift in spot Bitcoin ETF flows that ended a five-day streak of robust inflows. Data from SoSoValue revealed that U.S.-listed spot Bitcoin ETFs experienced net outflows totaling $277.5 million, marking the first daily outflow in May after nearly $1.7 billion in cumulative inflows over the previous five sessions.
The price of BTC touched an intraday low of $79,250 before recovering slightly, currently hovering near $80,000. This volatility followed a period of stability above $82,000 just a day earlier. The outflows were led by major players: Fidelity’s Wise Origin Bitcoin Fund saw $129 million exit, while BlackRock’s iShares Bitcoin Trust recorded $98 million in redemptions, according to Farside data. This reversal highlights how quickly investor sentiment can change when price momentum stalls.
Not all funds suffered withdrawals. Morgan Stanley’s Bitcoin Trust ETF (MSBT) continued to attract capital, adding $7.3 million on the same day and maintaining a streak without a single daily outflow since its launch on April 8, 2026. The fund has now amassed 2,920 BTC, valued at approximately $232.6 million. Grayscale’s Bitcoin Mini Trust was the only other Bitcoin-focused ETF to report positive inflows.
The broader crypto market also felt pressure. Spot Ethereum ETFs recorded $104 million in net outflows on May 7, with none of the ten Ethereum-based products seeing inflows, as per SoSoValue data. This downturn occurred amid the launch of 21Shares’ TCAN, the first U.S. ETF tied to Canton Coin, listed on Nasdaq with a 0.50% gross expense ratio.
Despite April’s strong finish with $2.44 billion in net spot Bitcoin ETF inflows, the latest outflows underscore the fragile nature of demand. The Crypto Fear & Greed Index slipped back into “Fear” territory at 38, after briefly touching “Neutral” levels. While Bitcoin remains higher over the past 30 days, profit-taking and risk aversion have clearly re-emerged, reminding investors that ETF flows are closely tied to price action and broader market sentiment.