Spot Bitcoin ETF Outflows Hit $812M in a Day
Spot Bitcoin ETFs saw $812M in outflows on August 1, with Fidelity leading. Ethereum ETFs ended a 20-day inflow streak.
- Spot Bitcoin ETFs saw the second-largest daily outflow.
- Fidelity’s FBTC ETF led with a $331M outflow.
- Ethereum ETFs ended 20 days of net inflows.
On August 1, spot Bitcoin ETFs experienced a significant $812 million in net outflows—the second-highest single-day outflow ever recorded. The largest contributor was Fidelity’s Bitcoin ETF (FBTC), which alone saw $331 million leave the fund.
This large movement of capital out of the market is seen as a signal of growing investor caution. Although spot Bitcoin ETFs had enjoyed robust inflows in previous months, August began with a sharp reversal. Fidelity’s FBTC, once considered one of the more stable Bitcoin ETF offerings, took a particularly hard hit, raising concerns about short-term market sentiment.
This sizable outflow suggests institutional investors may be scaling back their positions amid global macroeconomic concerns or crypto-specific developments like tightening regulations or price volatility.
Ethereum ETFs Break 20-Day Inflow Streak
Spot Ethereum ETFs weren’t spared either. On the same day, Ethereum-based ETFs saw a net outflow of $152 million. This not only highlights a broader shift in investor sentiment across digital assets but also brings an end to a 20-day streak of continuous inflows into Ethereum ETFs.
For nearly three weeks, Ethereum ETFs attracted consistent interest, signaling growing confidence in Ethereum as a long-term asset. The sudden reversal, however, indicates that investors might be pulling back due to uncertainty about ETH’s near-term price direction or upcoming regulatory news.
What This Means for the Market
Large ETF outflows often serve as a gauge of institutional sentiment. The dual outflows in both Bitcoin and Ethereum ETFs suggest that investors are either locking in profits or moving to risk-off positions. This could impact short-term price action across the crypto market, although long-term fundamentals remain unchanged.
While it’s too early to call this a trend reversal, such significant outflows warrant close attention from both retail and institutional players in the crypto space.
Read also:
- BTC Retesting 50 EMA with Key Support Below
- UK Cop Jailed for Stealing 50 BTC in Cold Case
- Arctic Pablo Coin Presale Explodes Past $3.14M As Investors Eye $64,516 From A $5k Stake While Shiba Inu And Official Trump Make Waves
- Bitcoin Exchange Supply Hits 6-Year Low
- Mysterious Whale Buys $148M Worth of PI Tokens
