Bitcoin News: Bitcoin ETFs Snap 5-Day Inflow Streak With $277.5 Million in Outflows as BTC Falls Below $80,000

U.S.-listed spot Bitcoin ETFs ended a five-day inflow streak on Thursday, logging $277.5 million in net outflows as Bitcoin dropped below the $80,000 level amid sharp intraday volatility. The reversal marks the first day of outflows in May and snaps a run that had accumulated nearly $1.7 billion in net inflows since late April. What you need to know Bitcoin ETFs recorded $277.5 million in outflows on Thursday — the first negative flow day in May — ending a five-consecutive-day inflow streak totaling $1.7 billion. Fidelity's FBTC led outflows at $129 million, followed by BlackRock's IBIT at $98 million. Morgan Stanley's MSBT has now gone its entire existence without a single day of outflows since launching on April 8. Bitcoin fell from above $82,000 on Wednesday to below $80,000 on Thursday, pushing the Crypto Fear and Greed Index back into "Fear" territory at 38. Bitcoin ETF flows: who sold and who held According to SoSoValue data, Thursday's $277.5 million in outflows were concentrated at the two largest funds. Fidelity's Wise Origin Bitcoin Fund (FBTC) led the retreat with $129 million in outflows, while BlackRock's iShares Bitcoin Trust ETF (IBIT) followed with $98 million leaving the fund. Together, the two market leaders accounted for the vast majority of the day's negative flows. Two funds bucked the trend. The Grayscale Bitcoin Mini Trust ETF (BTC) recorded modest inflows, as did the Morgan Stanley Bitcoin Trust ETF (MSBT) with $7.3 million — continuing what has become a remarkable unbroken inflow streak for the newest major entrant in the space. Morgan Stanley's Bitcoin ETF: no outflows since launch The Morgan Stanley Bitcoin Trust ETF has not recorded a single day of outflows since its debut on April 8, 2026 — making it the standout performer during Thursday's broader retreat. MSBT has accumulated 2,920 BTC since launch, worth approximately $232.6 million at current prices, representing a 557% increase in assets under management since its first trading day. The fund's resilience is notable given that Morgan Stanley's MSBT was the first spot Bitcoin ETF launched by a U.S. bank — a milestone that appeared to attract a loyal and sticky investor base from the institutional and wealth management channels the bank serves. What triggered the outflow reversal: BTC's sharp drop The catalyst for the ETF flow reversal was a steep intraday correction in Bitcoin itself. BTC climbed above $82,000 on Wednesday — its highest level since late January — before retreating sharply and falling below the psychologically significant $80,000 level on Thursday. The move caught leveraged and short-term traders off-guard and appears to have prompted profit-taking among some ETF holders who had been riding the week's earlier gains. Canton Network ETF debuts on Nasdaq Thursday also saw the Nasdaq debut of the 21Shares Canton Network ETF (TCAN), the first U.S.-listed ETF designed to offer direct exposure to Canton Coin, the native utility token of the Canton Network. TCAN closed its opening session at $24.66, slightly below its initial price of $24.76, according to Nasdaq data. Canton Coin itself slipped 1.7% on the day to $0.145, reflecting the broader cautious tone across crypto markets. Fear and Greed Index slips back into fear The day's negative price action pushed the Crypto Fear and Greed Index to 38 on Friday, returning the sentiment gauge to "Fear" territory after it had briefly recovered to "Neutral" the previous session. Despite the pullback, the index remains substantially above its April average of 17 — a period when Bitcoin was trading roughly 11% lower than current levels. The reading suggests that while short-term sentiment has softened, the medium-term shift in market mood since April's lows remains largely intact. What to watch next The key question for Bitcoin ETF flows in the coming days is whether Thursday's outflows represent a one-day correction or the start of a more sustained reversal. The five-day inflow streak that preceded it — totaling $1.7 billion — reflected genuine institutional demand. But with Bitcoin now back below $80,000 and the Fear and Greed Index retreating, the near-term trajectory of both price and flows will depend heavily on whether BTC can reclaim and hold the $80,000 level as support.