Bitcoin and Ethereum exchange-traded funds (ETFs) faced net outflows in recent trading days, with Bitcoin ETFs recording significantly larger withdrawals than their Ethereum counterparts.
Bitcoin ETFs lost $390 million in the second full week of August, marking a sharp reversal from the $850 million in net inflows they had seen over the previous weekend. The most substantial outflow occurred on Monday, amounting to $144.67 million, followed by further declines on subsequent days.
Ethereum ETFs, meanwhile, saw $2.26 million in net outflows over the past week, ending a five-week streak of cumulative inflows that had raised their net assets to $11.46 billion from $10.90 billion between the first full week of July and the first full week of August.
BlackRock’s IBIT Bitcoin ETF, which holds nearly $47 billion in net assets, and Fidelity’s FBTC Bitcoin ETF, with $10.70 billion in assets, were among the largest funds affected by the outflows. Fidelity also operates an Ethereum ETF, which reported $0.00 in net flows on Friday, according to data from SoSoValue.
The recent volatility highlights ongoing investor caution despite earlier optimism, with Bitcoin ETFs now facing their largest weekly outflow since April. Ethereum ETFs, though affected, remain in a stronger position compared to Bitcoin counterparts, having posted smaller withdrawals.
Written by Oliver Grant
Markets Desk
