Bitcoin News Today: U.S. Crypto ETFs See $812.3M Bitcoin, $152.3M Ethereum Outflows on August 1

U.S. spot Bitcoin and Ethereum exchange-traded funds (ETFs) experienced their largest outflows in months on August 1, following a record-breaking July marked by substantial inflows. According to SoSoValue data, the combined outflows for Bitcoin ETFs on the day totaled $812.3 million, the worst performance since February 24, when outflows reached $1.1 billion [1]. This marked the second-worst outflow day in the history of Bitcoin ETFs. The outflows were widely distributed among major funds, with Fidelity’s FBTC and Ark & 21 Shares’ ARKB each losing approximately $330 million, while BlackRock’s IBIT, the largest fund by assets under management, saw outflows of just $2.6 million [1]. Grayscale and Bitwise’s Bitcoin ETFs also recorded tens of millions in outflows.

The pattern was mirrored in Ethereum ETFs, which collectively saw $152.3 million in outflows on the same day—marking the worst single-day performance since January 7, when the sector recorded $159.3 million in outflows [1]. BlackRock’s ETHA fund remained neutral, while Bitwise’s ETHW and Grayscale’s ETHE faced the largest outflows, at $40.3 million and $37.2 million, respectively [1].

This marked a sharp reversal from July, during which the funds recorded an average of $600 million in inflows per day. BlackRock’s IBIT continues to maintain a significant lead in the sector, with assets under management nearly double that of its closest competitor, Fidelity’s FBTC [1]. Nate Geraci, president of NovaDius Wealth, commented on X that the week had been historically significant for crypto from a regulatory perspective, but the outflows suggested an "odd way to end" the week [1].

Industry participants remain active in seeking new product approvals, with multiple amendments filed last week for potential spot Solana ETFs. Earlier in August, Rex-Osprey launched the first staked crypto ETF in the U.S., employing a novel regulatory strategy to bring the product to market [1].

Source: [1] U.S. crypto ETFs open August with largest outflows in months following record-breaking July (https://www.theblock.co/post/365325/us-crypto-etfs-open-august-with-largest-outflows-in-months-following-record-breaking-july?utm_source=rss&utm_medium=rss)