At the end last week investors cashed out American Bitcoin exchange traded funds, ending a 7-day winning streak.
Farside Investors’ data indicates that BlackRock iShares Bitcoin Trust accounted for the bulk of Thursday and Freitag trading.
Over a period of seven days, between July 14-22 and $999.3 millions, funds such as Fidelity Morgan Stanley Grayscale took in just over $1 billion.
Bitcoin was under pressure to rise as the new money poured in. After the cash outflows, Bitcoin’s price dropped. However, it has not moved over the past seven days. Bitcoin’s price recently stood At $64,544.
Bitcoin’s value has dropped by over 50% in just one year. The cryptocurrency is also down 26% since hitting a new high of $126,080 set back in October.
The ETFs — approved after nearly a decade of denials by the Securities and Exchange Commission in 2024 — have helped Bitcoin’s price surge as Wall Street investors now have an easy way to buy into the crypto space.
Morgan Stanley’s Bitcoin Trust experienced an inflow of almost $9 million on Thursday and Friday, despite investors pulling out of the major crypto funds.
This fund was launched in April and now boasts close to $400 million in assets under management — making it one of the most successful ETFs of 2026.
Some analysts believe that while they have predicted Bitcoin’s bottom price, the Middle East war and the rise in oil prices could prevent it from making a comeback.
CoinShares is a European asset manager that said, earlier in the month, while investors were putting new cash into Bitcoin ETFs they may be hindered by other factors from seeing digital asset markets rise.
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Source: bitcoinmagazine.com
