Major Outflows for Bitcoin and Ether ETFs

Bitcoin ETFs Outflows

The 12 spot bitcoin exchange-traded funds (ETFs) in the US experienced their largest single-day outflow on Friday, August 2, since May 1—a span of over 90 days (and over 60 trading days).

On August 2, the total daily outflow reached $237.45 million, marking the highest figure since May 1’s outflows of $563.77 million. This was noted as the fourth-largest single-day outflow since the launch of the spot bitcoin ETFs in January, according to SoSoValue data.

Grayscale’s newly launched Bitcoin Mini Trust was one of only two ETFs registering inflows, garnering a modest $9.88 million. BlackRock’s IBIT also saw nearly $43 million in inflows.

However, these positive inflows were mitigated by substantial outflows: over $100 million from Fidelity’s FBTC, around $81 million from Ark Invest and 21Shares’ ARKB, along with sub-$50 million outflows from Grayscale’s GBTC, Bitwise’s BITB, and VanEck’s HODL. The other five funds did not see any changes.

While the single-day outflow is significant, the overall traded volume remained typical, and the combined net asset value of the ETFs stays near historical highs, despite bitcoin’s price decreasing toward the $60,000 mark.

Ether ETFs Outflows

In a related trend, the nine spot ether ETFs in the US recorded a $54 million outflow on Friday, the smallest single-day outflow observed since these funds debuted, according to SoSoValue data.

Currently, the total net assets held in these ether ETFs are at an all-time low of $8.33 billion, down from a peak of $10.24 billion on their first trading day. Most outflows, totaling $61 million, came from Grayscale’s ETHE, which maintains the highest net asset value among the spot ether ETFs at $6 billion.

Additionally, the total trading volume across ether ETFs hit its second-lowest level yet on Friday, at $438 million, significantly lower than the $2.34 billion traded within the bitcoin ETF market.