Investors pulled money from U.S. spot Bitcoin exchange-traded funds at the end of last week, bringing a seven-day inflow streak to an end.

Data from Farside Investors showed that more than $475 million was redeemed from the investment products during trading hours on Thursday and Friday. BlackRock’s iShares Bitcoin Trust accounted for most of the trading activity, according to the data.

The withdrawals followed a period of renewed inflows into the funds. Over the seven-day stretch from July 14 to July 22, Bitcoin ETFs managed by firms including Fidelity, Morgan Stanley, and Grayscale attracted just under $1 billion in new investment, totaling $999.3 million.

ETF flow data is closely watched in the crypto market because spot Bitcoin funds create and redeem shares through institutional market participants and hold Bitcoin to back those shares. Sustained inflows can add to demand for the underlying asset, while redemptions can signal weaker appetite among investors using regulated brokerage accounts.

Those fresh inflows had put upward pressure on Bitcoin’s price. The leading cryptocurrency later declined as money exited the ETFs, but it was recently little changed over a seven-day period. Bitcoin recently traded at $64,544.

So far this year, Bitcoin is down more than 26%. The cryptocurrency has also lost nearly 50% of its value since reaching a record high of $126,080 in October.

The ETFs were approved by the Securities and Exchange Commission in 2024 after nearly a decade of rejected applications. Their launch has helped support Bitcoin’s price by giving Wall Street investors a more accessible way to gain exposure to the crypto market without directly holding tokens or managing crypto wallets.

Despite the redemptions from major crypto funds, Morgan Stanley’s Bitcoin Trust, the newest product in the group, recorded inflows of nearly $9 million across Thursday and Friday.

The fund debuted in April and now has close to $400 million in assets under management, making it one of the most successful ETFs of 2026.

Some analysts have said Bitcoin has already reached a bottom, while others have pointed to uncertainty around the war in the Middle East and rising oil prices as potential factors that could limit a rebound in the cryptocurrency.

European asset manager CoinShares said earlier this month that although investors were again adding fresh capital to Bitcoin ETFs, other factors could hold digital asset markets back from moving higher.