Bitcoin fell below $63,000 on Aug. 13 as US spot Bitcoin ETFs posted $131.1 million in net outflows. Four sessions of withdrawals have now erased about 38% of the prior week's inflow rebound, even as Morgan Stanley's trust and Grayscale's Mini Trust drew fresh cash on the day.
Bitcoin dropped below $63,000, touching a 24-hour low of $62,487, as spot Bitcoin ETF redemptions spread across most of the US product lineup on Aug. 13. Only two funds bucked the trend, and the next session will show whether that split holds.
Morgan Stanley and Grayscale's Mini Trust buck the trend
Morgan Stanley Bitcoin Trust added $7.1 million while Grayscale's Bitcoin Mini Trust took in $38.9 million, a combined $46.0 million against $177.1 million of gross outflows across seven other products. The divergence was particularly sharp within Grayscale's own lineup. GBTC lost $36.3 million, but the Mini Trust's inflow was large enough to leave the asset manager's two products a combined $2.6 million positive for the day.
Fidelity and ARK lead the redemptions
ARK 21Shares Bitcoin ETF recorded the largest outflow at $58.8 million, followed by Fidelity's FBTC at $55.1 million, together accounting for 64.3% of gross outflows among the seven funds that posted withdrawals. Bitwise's BITB shed $9.3 million while Invesco's BTCO lost $7.9 million. Even BlackRock's IBIT posted a $5.7 million outflow, after having frequently been one of the strongest sources of inflows in the category.
Four sessions cut into last week's rebound
The Aug. 13 withdrawal extended a run that, across four sessions, totaled $332 million in net outflows: $144.6 million out on Aug. 10, $4.8 million in on Aug. 11, then $61.1 million and $131.1 million out on Aug. 12 and Aug. 13. That reversed much of the prior week's $853 million rebound, erasing about 38% of the gain and leaving this month's combined flows at $521 million net positive.
Source: CryptoSlate
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