Fidelity Leads $389.7M Bitcoin ETF Outflow
Bitcoin ETFs recorded $389.7M in net outflows in one week.
1Net Outflows in Bitcoin ETFs
U.S. spot Bitcoin ETFs recorded $389.7M in net outflows during the week of August 10-14, reversing the previous week's strong inflows. Ether funds saw a slight decline, while Solana, XRP, and HYPE ETFs ended the week with net additions. Fidelity's FBTC fund led the losses with $153.2M in outflows.
2Performance of Fidelity and Other Funds
Fidelity's FBTC fund led with $153.2M in outflows. Grayscale's GBTC fund lost $88.3M, while Blackrock's IBIT fund recorded $78.9M in net outflows. ARK 21Shares' ARKB fund shed $70.3M, and Bitwise's BITB fund lost $31.6M. Franklin Templeton's EZBC fund posted $23.9M in withdrawals.
3Selective Demand in Altcoin ETFs
Solana funds led the altcoin group with $10.26M in weekly inflows. HYPE ETFs attracted $2.74M, and XRP products added $2.25M. This suggests investors continued to make selective crypto allocations even as Bitcoin flows turned defensive.
4Macroeconomic Indicators
July's Consumer Price Index (CPI) rose 3.4% year-over-year, while core inflation increased by 2.5%. Monthly core CPI rose by 0.2%. Initial jobless claims climbed to 209,000, exceeding forecasts. The Producer Price Index (PPI) increased by 4.7% year-over-year.
5Weekly Performance of Bitcoin ETFs
Bitcoin ETFs suffered losses across all five sessions of the week. The week started with a $144.67M outflow on Monday, followed by a brief relief with a $4.89M net inflow on Tuesday. However, outflows of $61.16M and $131.13M were recorded on Wednesday and Thursday, respectively. Friday saw another $57.63M in outflows.
6State of Ether ETFs
Ether ETFs ended the week with roughly $2.26M in net outflows. Monday saw a $14.59M withdrawal, followed by another $1.76M exit on Tuesday. Demand improved later in the week, with inflows of $7.38M on Wednesday and $6.72M on Thursday. Friday saw no net flows.
7Performance of Hashdex and Grayscale
Hashdex's DEFI fund lost $4.3M, while Grayscale's Bitcoin Mini Trust fund added $75.98M, becoming one of the few winners of the week. Morgan Stanley's MSBT fund attracted $7.08M in inflows.
8Future of Bitcoin ETFs
Bitcoin ETFs ended the week with net outflows, influenced by macroeconomic indicators such as CPI and unemployment data. However, selective demand in Solana, XRP, and HYPE funds indicates continued investor interest in the crypto market. The future of Bitcoin ETFs will depend on macroeconomic conditions and investor behavior.