US spot Bitcoin ETF products got hammered on Thursday, with massive outflows hitting $410.4 million in a single day.
That pushed weekly losses to $375.1 million, according to SoSoValue numbers. If Friday doesn’t flip the script with big inflows, we’re staring down a fourth straight week in the red for these funds.
Assets under management are hovering near $80 billion now, way off the October 2025 peak of almost $170 billion. This happened the same day Standard Chartered cut its 2026 Bitcoin price target from $150,000 all the way down to $100,000.
The bank is warning of more downside, with Bitcoin possibly tanking to $50,000 before any real bounce back.
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“We expect further price capitulation over the next few months,” their Thursday report noted, also seeing Ether sliding to $1,400 before climbing toward $4,000 by year-end.
Every single one of the 11 major Bitcoin ETF offerings saw red on Thursday. BlackRock’s iShares Bitcoin Trust (IBIT) led the pack with $157.6 million out the door, while Fidelity’s Wise Origin Bitcoin Fund wasn’t far behind at $104.1 million.
The pain spread beyond Bitcoin ETFs
Ether ETFs shed $113.1 million that day, pushing their weekly outflows to $171.4 million and risking another full week of losses. Even XRP ETFs dipped into negative territory for the first time since early February, with $6.4 million gone.
However, Solana ETFs pulled in a modest $2.7 million inflow.
Analysts aren’t calling this the ultimate bear market crash just yet. CryptoQuant points out that Bitcoin’s realized price support sits around $55,000 and it hasn’t been properly tested.
“Bitcoin’s ultimate bear market bottom is around $55,000 today,” they said in their latest update.
Their Bull-Bear Market Cycle Indicator is still in bear territory, but not the “extreme bear” zone that usually signals the real bottoming phase, which can drag on for months.
Bitcoin itself was clinging to about $66,000 on Thursday, dipping as low as $65,250 at one point.
It’s a rough patch for the Bitcoin ETF space right now, with institutional money heading for the exits amid macro worries and revised forecasts.
But if that $55,000 level holds as support like some expect, this could be setting up for the next leg up, though it’ll take conviction to turn the tide.
