U.S. spot Bitcoin exchange-traded funds registered $225.2 million in net outflows on July 23, ending a seven-day inflow streak that had collectively brought in nearly $1 billion. Institutional demand reversed hard.
BlackRock's IBIT led the exit, accounting for $202.5 million of total outflows. Only one Bitcoin ETF—Morgan Stanley's MSBT—posted net inflows, adding $5 million on the day. That concentration points to targeted profit-taking from larger players, not broad retail rotation.
The outflows hit as Bitcoin briefly dropped below $65,000. Broader markets felt pressure from renewed U.S.-Iran hostilities: the Nasdaq fell 0.6 percent to $24,976 and the Russell 2000 dropped 0.3 percent to $2,930. Risk appetite contracted across asset classes.
Spot Ethereum ETFs moved the other direction, recording $26.3 million in net inflows on July 23. With Ethereum trading at $3,150, that divergence signals a distinct shift in positioning toward the second-largest digital asset during Bitcoin's weakness.
The Crypto Fear & Greed Index sits at 27, deep in Fear territory. That reading aligns with the ETF outflow data and Bitcoin's price dip—investors are in risk-off mode, and the flow numbers confirm it.
