After a strong first week of August with over $850 million in inflows, Bitcoin spot ETFs reversed course in the second week, recording nearly $390 million in net outflows. Monday saw the heaviest losses at $144.67 million, with only Tuesday posting a modest $4.89 million in inflows. Meanwhile, Ethereum ETFs ended a five-week streak of positive inflows, though net withdrawals were minimal at just $2.26 million. The funds saw mixed daily flows, with Friday recording zero net activity. BlackRock’s IBIT remains the dominant Bitcoin ETF with nearly $47 billion in net assets.
The spot Bitcoin ETFs experienced a significant reversal in the second week of August, with net outflows reaching nearly $390 million. This came after the funds had recorded their best week since April with over $850 million in net inflows.
Monday was the most painful day, with $144.67 million leaving the funds. Tuesday was the only positive day, but the $4.89 million in inflows was insufficient to offset the losses.
Wednesday saw $61.16 million in withdrawals, followed by $131.13 million on Thursday and $57.63 million on Friday. BlackRock’s IBIT remains the largest Bitcoin ETF by far, with net assets of nearly $47 billion.
Fidelity’s FBTC ($10.70 billion) and Grayscale’s GBTC ($8.26 billion) follow as the next largest funds. The Ethereum ETFs broke a five-week all-green streak during the same period.
The streak had begun during the first full week of July and ran through the first full week of August. Cumulative total net inflows increased from under $10.90 billion to $11.46 billion during that timeframe.
However, net withdrawals for the Ethereum ETFs were just $2.26 million, significantly less than the Bitcoin funds. Monday and Tuesday saw net outflows of $14.59 million and $1.76 million, respectively.
Net inflows of $7.38 million on Wednesday and $6.72 million on Thursday failed to recover all the losses. Friday recorded zero net flows, a rare occurrence for the Ethereum ETFs.
