U.S.-listed spot Bitcoin ETFs recorded $277.5 million in net outflows on Thursday.
The move ended a five-day inflow streak worth nearly $1.7 billion, according to SoSoValue data.
The reversal came as Bitcoin fell below $80,000 after trading above $82,000 a day earlier. Current market data showed Bitcoin (BTC) near $80,000, after an intraday low of $79,250.
Fidelity and BlackRock lead outflows
Fidelity’s Wise Origin Bitcoin Fund led the daily redemptions with $129 million in outflows. BlackRock’s iShares Bitcoin Trust followed with $98 million in outflows, based on Farside figures.
The outflows showed a sharp change from the early May trend. Bitcoin ETFs had drawn strong demand as Bitcoin reclaimed the $80,000 area and investors returned to spot funds after April’s recovery.
Moreover, Morgan Stanley’s Bitcoin Trust ETF was one of the few funds to record inflows on the day. MSBT added $7.3 million and has not logged a daily outflow since launching on April 8, 2026.
The fund has accumulated 2,920 BTC, worth about $232.6 million. Grayscale’s Bitcoin Mini Trust was the only other Bitcoin fund to post inflows during the broader outflow day.
Ethereum ETFs and TCAN add context
Spot Ethereum ETFs also turned negative on May 7, with $104 million in net outflows. None of the ten Ethereum ETFs recorded inflows that day, according to SoSoValue data.
The ETF pullback came as 21Shares launched TCAN, the first U.S. ETF tied to Canton Coin. As previously reported by crypto.news, TCAN gives investors exposure to the Canton Network through a Nasdaq-listed product with a 0.50% gross expense ratio.
ETF demand cools after April rebound
The latest outflows followed a strong April for Bitcoin funds. Crypto.news recently reported that April closed with $2.44 billion in spot Bitcoin ETF net inflows, even after late-month outflow pressure.
The latest dip below $80,000 shows that ETF flows remain tied to price swings, profit-taking, and broader risk sentiment.
Market mood also weakened. The Crypto Fear & Greed Index moved back into “Fear” at 38 after briefly returning to “Neutral.” Bitcoin remained higher over the past 30 days, but the ETF outflow day showed that demand can fade quickly when volatility returns.
