Key Takeaways
- Bitcoin exchange-traded funds (ETFs) lost $389.7M from Aug. 10-14, reversing the prior week’s strong inflows.
- Fidelity’s FBTC lost $153.2M as solana, XRP, and HYPE funds still drew selective demand.
- Bitcoin faces a new test as CPI hit 3.4% and jobless claims reached 209,000.
Bitcoin ETFs Reverse Prior Week’s Rally With $389.7M Outflow
The rush into crypto ETFs cooled quickly.
After bitcoin funds posted their strongest week since April, investors spent much of the following five sessions trimming exposure. The selling was broad, persistent and concentrated in some of the market’s largest products.
By Friday’s close, bitcoin ETFs had suffered four negative sessions out of five.
Bitcoin Gives Back Part of Its August Rally
The week opened with a $144.67 million bitcoin ETF outflow, ending the five-day inflow streak carried over from the prior week.
Tuesday offered only brief relief. A $4.89 million net inflow, supported by $50.20 million into Blackrock’s IBIT, was followed by withdrawals of $61.16 million on Wednesday and $131.13 million on Thursday. Another $57.63 million left the funds on Friday.
The weekly loss reached $389.7 million.
Fidelity’s FBTC suffered the largest withdrawal at $153.2 million. Grayscale’s GBTC lost $88.3 million, while Blackrock’s IBIT recorded $78.9 million in net outflows. ARK 21Shares’ ARKB shed $70.3 million, and Bitwise’s BITB lost $31.6 million. Franklin Templeton’s EZBC posted $23.9 million in withdrawals.
Hashdex’s DEFI also lost $4.3 million as investors continued to exit ahead of the fund’s planned liquidation. Grayscale’s Bitcoin Mini Trust was one of the few winners, adding $75.98 million. Morgan Stanley’s MSBT attracted $7.08 million.
Ether Holds Near Flat as Altcoins Find Buyers
Ether ETFs finished the week with roughly $2.26 million in net outflows.
Monday brought a $14.59 million withdrawal, followed by another $1.76 million exit on Tuesday. Demand improved later in the week, with inflows of $7.38 million on Wednesday and $6.72 million on Thursday. Friday saw no net flows.
Smaller crypto ETFs produced a firmer result.
Solana funds led the altcoin group with $10.26 million in weekly inflows. Most of that came from Monday’s $8.83 million addition, followed by $1.43 million on Tuesday.
HYPE ETFs attracted $2.74 million, all on Monday. XRP products added $2.25 million, with the entire weekly gain arriving on Thursday.
The macro backdrop offered investors plenty to digest. July headline CPI rose 3.4% from a year earlier, while core inflation increased 2.5%, both matching expectations. Monthly core CPI rose 0.2%. Labor data softened slightly as initial jobless claims climbed to 209,000, above forecasts of 202,000. Producer prices also eased, with July PPI rising 4.7% year over year, below the 4.9% estimate and down from 5.5% previously.
Those readings kept interest-rate expectations in play throughout the week. Bitcoin ETFs, often one of the most liquid institutional expressions of crypto risk, absorbed the heaviest selling.
The weekly ledger still showed demand further down the market. Solana, XRP and HYPE funds all closed positive, suggesting investors continued to make selective crypto allocations even as bitcoin flows turned sharply defensive.
