According to Woofun AI, the U.S. bitcoin spot ETF market is under sustained withdrawal pressure, with single-day net outflows across the industry reaching $95 million as of local time on the 10th, marking four consecutive trading sessions of capital flight since the 5th.
This divergence in fund flows is especially pronounced among the leading institutions. BlackRock (BLK.US)'s iShares Bitcoin Trust (IBIT) became the main driver of outflows, with single-day net redemptions hitting $78.24 million; notably, the product's one-day outflow on the 9th even reached $213 million, directly weighing on the asset scale of the entire ETF market.
Despite short-term selling pressure, IBIT's cumulative net inflows since its listing in January 2024 remain the highest in the industry, totaling $64.81 billion.
In sharp contrast, Morgan Stanley (MS.US)'s bitcoin spot ETF MSBT attracted $20.03 million in net inflows, with cumulative net inflows of about $825 million since its debut.
Data compiled by Woofun AI suggests this disparity may stem from differing considerations among ETFs regarding fee structures, investor composition, and institutional portfolio adjustment strategies.
Currently, the total net asset value of all bitcoin spot ETFs stands at $92.824 billion, with market sentiment clearly under pressure from the dual squeeze of falling BTC prices and rate hike expectations. The rapid rotation of capital among leading products reflects a subtle shift in institutional investors' risk appetite.
As macro rate expectations and crypto asset price volatility resonate, the stock-game characteristics of the ETF market will further intensify, and capital movements in a single product may more frequently trigger an overall contraction in the industry's scale.
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