Spot Bitcoin ETFs experienced a significant outflow of $812.25 million on Friday, marking the second-largest single-day loss since their inception [1]. This withdrawal reversed a week of gains and reduced the cumulative net inflows to $54.18 billion, with total assets under management dropping to $146.48 billion—equivalent to 6.46% of Bitcoin’s market capitalization [1]. Fidelity’s FBTC led the outflows with $331.42 million in redemptions, followed by ARK Invest’s ARKB with $327.93 million. Grayscale’s GBTC also reported a $66.79 million outflow, while BlackRock’s IBIT suffered a smaller loss of $2.58 million [1]. Despite the outflows, trading volumes remained robust, with $6.13 billion in value exchanged across all Bitcoin ETFs. Notably, BlackRock’s IBIT accounted for $4.54 billion in volume, indicating ongoing investor interest.
The outflows also affected Ether ETFs, ending a 20-day streak of net inflows [2]. On Friday, the sector recorded a $152.26 million outflow, reducing total assets under management to $20.11 billion, or 4.70% of Ether’s market cap [2]. Grayscale’s ETHE led the losses with a $47.68 million drop, followed by Bitwise’s ETHW with a $40.30 million outflow. Fidelity’s FETH saw $6.17 million in redemptions, while BlackRock’s ETHA remained flat with no net movement. Trading volumes across all Ether ETFs totaled $2.26 billion, with Grayscale’s ETH product contributing $288.96 million in daily trades [2].
The recent surge in demand for Ether ETFs had previously driven record-breaking inflows. On July 16, Ethereum ETFs saw a $726.74 million inflow—the largest since their launch—followed by another $602.02 million the next day [2]. However, this momentum has now reversed, reflecting a shift in investor sentiment.
Meanwhile, a report by Standard Chartered noted that corporations are acquiring Ether at twice the rate of Bitcoin [3]. Since early June, crypto treasury firms have purchased approximately 1% of Ethereum’s total circulating supply. The bank attributed Ether’s recent price rally to this accumulation and steady inflows into U.S. spot Ether ETFs [3]. It also forecasted that Ethereum treasury holdings could reach up to 10% of the total supply by the end of the year, driven by staking and decentralized finance (DeFi) participation [3].
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Source: [1] Spot Bitcoin ETFs see second-largest outflow, Ether ETFs end 20-day streak (https://coinmarketcap.com/community/articles/688db50d2071ae4d318f4fe4/)
