Spot Bitcoin ETFs recorded $812.25 million in net outflows on Friday, marking the second-largest single-day exodus in the history of these products.
Key Takeaways:
- Bitcoin ETFs saw $812M in outflows on Friday, marking the second-largest single-day loss on record.
- Ether ETFs ended a 20-day inflow streak with $152M in redemptions.
- Institutional appetite for Ethereum appears to be growing, with corporate treasuries now holding 2.73 million ETH.
The sudden reversal wiped out a week’s worth of inflows and cut cumulative net gains to $54.18 billion.
Total assets under management (AUM) across Bitcoin ETFs dropped to $146.48 billion, equivalent to 6.46% of the cryptocurrency’s total market capitalization, according to data from SoSoValue.
Fidelity and ARK Lead Bitcoin ETF Outflows With Over $659M Pulled
Fidelity’s FBTC saw the largest drawdown, with $331.42 million in redemptions, followed closely by ARK Invest’s ARKB, which lost $327.93 million.
Grayscale’s GBTC also recorded significant outflows of $66.79 million, while BlackRock’s IBIT posted a relatively modest $2.58 million loss.
Despite the capital flight, trading activity remained robust. Total volume across all spot Bitcoin ETFs hit $6.13 billion, with IBIT alone accounting for $4.54 billion, suggesting that institutional interest hasn’t fully evaporated.
Meanwhile, spot Ether ETFs broke their 20-day inflow streak, their longest to date, logging $152.26 million in net outflows on the same day.
The total AUM for Ether ETFs now stands at $20.11 billion, or 4.70% of Ethereum’s market capitalization.
Grayscale’s ETHE led the outflows with $47.68 million in redemptions, followed by Bitwise’s ETHW with $40.30 million and Fidelity’s FETH with $6.17 million.
BlackRock’s ETHA remained unchanged, holding firm at $10.71 billion. Overall trading volume across Ether ETFs reached $2.26 billion, with Grayscale’s product contributing nearly $289 million of that total.
Just weeks ago, Ether ETFs were setting records. On July 16, they pulled in $726.74 million in net inflows, the largest daily total since their inception, followed by $602.02 million the next day, reflecting a surge in demand.
Part of that momentum appears to be fueled by rising institutional interest in Ethereum as a strategic treasury asset.
Last week, Ether Machine, backed by several high-profile industry investors including Pantera Capital and Kraken, announced purchasing 15,000 ETH as part of its long-term treasury strategy.
Likewise, BitMine Immersion Technologies recently acquired $2 billion worth of ETH over a 16-day span, making it the largest corporate holder of Ethereum.
In total, corporate treasuries now hold 2.73 million ETH, representing 2.26% of the asset’s circulating supply, according to Strategic Ether Reserves.
95% Approval Chance for Spot Solana, XRP ETFS
As reported, Bloomberg’s senior ETF analysts have assigned a 95% chance that the SEC will approve spot ETFs for Solana, XRP, and Litecoin this year, raising their previous odds from 90% amid growing optimism for institutional crypto products.
They also expect a crypto index ETF tracking multiple assets could gain approval as early as this week, signaling broader access to altcoins for traditional investors.
Beyond ETFs, institutional Bitcoin demand is spreading into corporate treasuries.
As reported, Singapore-headquartered edtech firm Genius Group has doubled its Bitcoin holdings to 200 BTC after acquiring 20 BTC last week, part of a wider strategy to build a 10,000-BTC treasury.
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