US spot Bitcoin ETFs recorded more than $475 million in withdrawals across Thursday and Friday, bringing an end to a seven-day streak of steady inflows into regulated Bitcoin investment products.

The reversal followed a brief recovery in demand for the funds and raised renewed questions about the durability of institutional demand. Between July 14 and July 22, Bitcoin ETFs drew $999.3 million in inflows, with activity led by funds from Fidelity, Morgan Stanley, and Grayscale before the late-week shift in flows.

ETF flow data is closely watched because these products have become one of the main regulated channels for US investors to gain Bitcoin exposure. Daily inflows and outflows can show changes in demand through brokerage and advisory platforms, although they do not capture all Bitcoin trading activity across crypto exchanges or private markets.

BlackRock’s iShares Bitcoin Trust accounted for much of the trading activity during the selloff, as investors moved money out of Bitcoin ETF products after several consecutive days of additions.

Bitcoin Price Loses Momentum After ETF Withdrawals

The earlier inflows had helped support Bitcoin’s move higher, but withdrawals on Thursday and Friday reduced that momentum. Bitcoin traded near $64,544 and was little changed over the previous seven days after giving back part of its earlier gains.

Bitcoin remains down more than 26% in 2026. It has also lost nearly half of its value since reaching a record high of $126,080 in October. That decline has left traders cautious, even as some market participants have argued that Bitcoin may have formed a bottom.

Some New Bitcoin ETFs Continue to Attract Demand

Not every Bitcoin ETF reported losses during the late-week pullback. Morgan Stanley’s Bitcoin Trust received almost $9 million in new money across Thursday and Friday, even as the broader group of funds faced redemptions.

Morgan Stanley’s fund launched in April and now manages close to $400 million in assets. Its growth places it among the stronger ETF launches of 2026 and indicates that some investors continue to favor newer Bitcoin ETF products despite the broader outflow trend.

Bitcoin ETFs have expanded access to cryptocurrency markets since US regulators approved spot Bitcoin products in 2024. The funds allow investors to gain exposure to Bitcoin through traditional brokerage accounts without directly holding the asset.

That structure is important for institutions and wealth managers that face custody, compliance, or operational limits around holding Bitcoin directly. At the same time, ETF redemptions can make short-term demand shifts more visible because assets can move in and out of listed funds quickly.

Broader macroeconomic pressures remain a factor for risk assets. Rising oil prices and conflict in the Middle East continue to weigh on markets. CoinShares has also warned that fresh ETF inflows may not be enough to sustain a lasting rally while global market pressure remains elevated.