Spot Bitcoin ETFs bled out almost $390 million last week, following their best week since April. Spot Ether ETFs also turned negative, ending a five-week streak of inflows, though their withdrawals were far smaller than Bitcoin's.
Spot Bitcoin ETFs turned red again over the past five trading days, with only one day recording more inflows than outflows. Ether ETFs also broke their streak, but their net withdrawals were significantly less severe than Bitcoin's.
Bitcoin ETFs shed $390 million
The prior week, Bitcoin ETFs registered their best week since April, pulling in more than $850 million in net inflows after months in which withdrawals dominated. That run fueled hope that the late Q2 ETF slowdown was over.
The second full week of August didn't confirm it. Instead, the funds bled out almost $390 million. Monday was the worst day, with $144.67 million leaving the funds. Wednesday and Thursday added $61.16 million and $131.13 million in further withdrawals. Friday brought another $57.63 million in outflows. Tuesday was the only positive day, but its $4.89 million inflow came nowhere near offsetting the losses.
BlackRock's IBIT remains by far the largest Bitcoin ETF, with net assets of nearly $47 billion. Fidelity's FBTC and Grayscale's GBTC follow, holding $10.70 billion and $8.26 billion respectively.
Ether ETFs snap a five-week streak
Ether ETFs had been on an all-green streak that ran for five consecutive weeks, starting the first full week of July. Within that stretch, cumulative net inflows rose from under $10.90 billion to $11.46 billion.
Source: CryptoPotato
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