TL;DR
- Bitcoin ETFs: About $145.7M in outflows on May 8, led by Fidelity’s $97.6M withdrawal, following $268M the previous day.
- Market Impact: Bitcoin dipped below $80K as geopolitical tensions and leveraged liquidations weighed on sentiment.
- Ethereum ETFs: Recorded $3.6M in inflows, continuing a pattern of relative resilience supported by network upgrades and institutional interest.
U.S. spot Bitcoin ETFs registered about $145.7 million in net outflows on Friday, May 8, marking a second consecutive session of withdrawals as geopolitical tensions and broader risk‑off sentiment pressured institutional flows. Market reports citing Farside Investors data confirmed the pullback extended the weakness that began a day earlier.
Fidelity Leads the Withdrawals
Fidelity’s Wise Origin fund (FBTC) accounted for roughly $97.6 million of the session’s outflows. Several other Bitcoin ETFs also saw redemptions, though none matched Fidelity’s scale. The move followed Thursday’s $268 million in outflows, which reversed a late‑April and early‑May streak that had brought nearly $1.7 billion into spot Bitcoin ETFs. Bitcoin traded below $80,000 during the session, briefly touching $79,700 before stabilizing. Analysts attributed the decline partly to geopolitical uncertainty involving Iran and a reduction in leveraged crypto exposure. Liquidations across major tokens surpassed $330 million over 24 hours, according to market reports.
Institutional Flows Lose Momentum
The May 8 setback interrupted one of the strongest institutional demand periods for Bitcoin ETFs since early 2025. Over the prior six weeks, spot Bitcoin Funds had accumulated approximately $3.4 billion in inflows. BlackRock’s IBIT remains the leading product by cumulative inflows and assets under management despite the recent slowdown. Flows into Bitcoin ETFs continue to influence short‑term liquidity and price momentum across digital assets. Since U.S. regulators approved spot Bitcoin ETFs, daily inflows and outflows have become a key gauge of institutional sentiment.
While Bitcoin ETFs faced pressure, U.S. spot Ethereum ETFs recorded about $3.6 million in net inflows on May 8. Reports highlighted improving interest in Ether‑linked products, supported by themes such as tokenization, stablecoin infrastructure, and applications built on Ethereum. The divergence between Bitcoin ETFs and Ethereum products reflects broader institutional positioning trends. Bitcoin remains the dominant asset by total ETF allocations, but Ethereum funds have shown steadier demand after a weaker start to the year.
