Bitcoin News Today: Bitcoin Treasuries Add $552M As ETFs See $1.25B Outflows

Publicly traded Bitcoin treasury companies added $552 million worth of Bitcoin (BTC) in the week ending August 4, according to data from Bitcoin Treasuries, while Bitcoin ETFs recorded $1.25 billion in outflows during the same period [1]. The diverging trends highlight a shift in capital allocation within the Bitcoin ecosystem, with institutional treasuries stepping in to absorb nearly 4,869 BTC, valued at approximately $113,418 per coin at the time of reporting. This purchase volume was about $700 million less than the amount withdrawn by ETF investors but still represents a significant counterbalance to the selling pressure [1].

Metaplanet emerged as the largest corporate buyer, acquiring 463 BTC, valued at over $54 million [1]. James Butterfill, head of research at CoinShares, attributed the ETF outflows to broader macroeconomic factors, including recent Federal Open Market Committee statements and stronger-than-expected economic data [1]. The continued outflows contrast with the growing appetite of public companies to add Bitcoin to their treasuries, suggesting a potential long-term shift in capital deployment strategies.

Despite the ETF sell-off exceeding corporate buying, the overall Bitcoin supply has contracted significantly in 2024. As of August 4, public companies and ETF investors combined had absorbed 524,670 BTC in nearly seven months. This figure far outpaces the 98,503 BTC mined during the same period, according to Glassnode data [1]. Analysts note that with an estimated 164,250 BTC set to be mined this year, the amount already absorbed by institutional actors is over three times higher, with more than four months remaining.

The supply imbalance is beginning to show in price behavior. Although Bitcoin experienced a 4.2% decline last week amid macroeconomic volatility, it remains just 7.5% away from its all-time high of $122,054.86, set on July 14 [1]. This resilience suggests that market participants are beginning to factor in structural supply constraints, which could reinforce Bitcoin’s value proposition in a tightening monetary environment.

The trend of corporate treasuries investing in Bitcoin is part of a broader adoption wave in the crypto space. Institutional interest continues to grow, even as retail and speculative flows through ETFs experience temporary turbulence. This divergence raises questions about the sustainability of the current market dynamics and the long-term role of institutional investors in shaping Bitcoin’s price trajectory.

Source: [1] Public Bitcoin treasuries step in with $552M buys amid $1.25B ETF outflows (https://cryptoslate.com/public-bitcoin-treasuries-step-in-with-552m-buys-amid-1-25b-etf-outflows/)