Key Takeaways

Ethereum and Bitcoin ETFs saw sharp outflows on the 29th of August, with ETH funds losing $164.6 million and BTC funds $126.6 million, amid renewed macroeconomic pressure. 

Ethereum’s [ETH] impressive streak of ETF inflows in August has come to a halt, closing the month on a note of heavy withdrawals.

According to data from Farside Investors, ETH ETFs registered a sharp outflow of $164.6 million on the 29th of August.

It effectively ended six consecutive days of strong inflows that had drawn nearly $1.9 billion into the market.

Grayscale’s ETHE product led the retreat with $61.3 million in outflows, followed by $51 million from Fidelity’s ETH fund, $28.6 million from Grayscale’s other ETH offering, and $23.7 million from Bitwise.

Other issuers, including BlackRock, saw no net flows on the day.

The reversal coincided with Ethereum’s price action, trading at $4,442 after a 6.75% weekly decline, though it managed a slight 1% recovery in the past 24 hours as per CoinMarketCap. 

Bitcoin ETF outflow analysis

A similar trend played out on the Bitcoin [BTC] side, where ETFs recorded combined outflows of $126.6 million, the first day of losses since 22nd August.

The largest outflow came from 21Shares’ ARKB, which lost $72.1 million, followed by Fidelity’s FBTC with $66.2 million withdrawn, while Grayscale’s GBTC recorded $15.3 million in exits.

However, the pain wasn’t universal, as BlackRock’s IBIT attracted $24.63 million and WisdomTree’s BTCW added $2.3 million, though most other issuers reported flat activity.

This aligned with Bitcoin slipping 5.32% over the week but was changing hands at

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Author: Ishika Kumari