Fidelity’s FBTC recorded the largest withdrawal as US spot Bitcoin exchange-traded funds suffered $389.7m in net outflows between 10 and 14 August, ending the strong inflow run seen the previous week.
The reversal came after Bitcoin funds had enjoyed their best week since April, when they attracted $853.54m across all five sessions. Investors then reduced their exposure during four of the next five trading days, with selling concentrated among several of the market’s biggest products.
Bitcoin ETFs opened the week with $144.67m in net outflows, bringing the previous five-day inflow streak to an end. There was a brief recovery on Tuesday, when the funds recorded a $4.89m net inflow. That result was helped by $50.20m entering BlackRock’s IBIT.
The improvement did not last. Bitcoin funds posted net withdrawals of $61.16m on Wednesday, $131.13m on Thursday and a further $57.63m on Friday. The combined losses for the week totalled $389.7m.
Fidelity’s FBTC accounted for the largest individual outflow, losing $153.2m. Grayscale’s GBTC recorded withdrawals of $88.3m, while BlackRock’s IBIT saw $78.9m leave the fund.
ARK 21Shares’ ARKB lost $70.3m and Bitwise’s BITB recorded $31.6m in outflows. Franklin Templeton’s EZBC suffered withdrawals of $23.9m.
Hashdex’s DEFI also lost $4.3m as investors continued to withdraw funds ahead of its planned liquidation. However, Grayscale’s Bitcoin Mini Trust was among the few products to record a gain, attracting $75.98m. Morgan Stanley’s MSBT added a further $7.08m.
Ether ETFs also finished the week in negative territory, although their losses were considerably smaller, with net outflows of about $2.26m.
Ether funds lost $14.59m on Monday and another $1.76m on Tuesday before demand returned later in the week. They attracted $7.38m on Wednesday and $6.72m on Thursday, while Friday ended with no net flow.
Solana, XRP and HYPE funds attract inflows
Smaller cryptocurrency ETFs performed more strongly, with Solana products leading the group. They recorded $10.26m in net inflows over the five-day period, including $8.83m on Monday and a further $1.43m on Tuesday.
HYPE ETFs added $2.74m, with the entire gain coming on Monday. XRP products attracted $2.25m, all of it arriving on Thursday.
The wider economic picture also influenced investors during the week. July headline CPI rose 3.4% year on year, while core inflation increased by 2.5%, with both figures matching expectations. Monthly core CPI rose 0.2%.
Labour-market data showed a slight weakening, as initial jobless claims reached 209,000, above the forecast of 202,000. Producer-price inflation also eased: July PPI rose 4.7% year on year, below the 4.9% estimate and down from 5.5% previously.
The data kept expectations for interest-rate decisions in focus. Bitcoin ETFs, which are often among the most liquid ways for institutional investors to gain exposure to cryptocurrency risk, bore the brunt of the week’s selling.
Despite the sharp reversal in Bitcoin flows, the overall weekly figures showed that demand had not disappeared across the wider cryptocurrency market. Solana, XRP and HYPE funds all ended the period with net gains, indicating that investors continued to make selective allocations even as sentiment towards Bitcoin turned more defensive.
