- Spot Bitcoin ETFs registered $812 million in net outflows on Friday, the second-largest single-day loss for this asset class.
- Fidelity’s FBTC and Ark Invest’s ARKB led withdrawals, accounting for most outflows, while BlackRock’s IBIT saw minimal redemptions.
- Total assets under management for spot Bitcoin ETFs dropped to $146 billion, representing 6.46% of Bitcoin’s market value.
- Spot Ethereum ETFs ended a 20-day inflow streak, posting $152 million in outflows and reducing assets under management to $20 billion.
- Standard Chartered reports that companies are accumulating Ether at twice the rate of Bitcoin, with potential for corporate holdings to reach up to 10% of Ethereum’s supply.
Spot Bitcoin exchange-traded funds (ETFs) experienced a net outflow of $812 million on Friday, marking the second-largest single-day reduction for these products. The withdrawals reversed a week of steady gains and brought cumulative net inflows down to $54 billion. This activity reduced the total assets under management for spot Bitcoin ETFs to $146 billion, which is 6.46% of Bitcoin’s total market capitalization, according to SoSoValue.
Fidelity’s FBTC led redemptions with $331 million in outflows. ARK Invest’s ARKB followed, pulling back $328 million. Grayscale’s GBTC lost $67 million, while BlackRock’s IBIT had a minor loss of $2.6 million. Trading remained active, with $6.1 billion exchanged across all spot Bitcoin ETFs. IBIT contributed $4.5 billion in volume, reflecting ongoing interest.
Spot Ethereum ETFs ended their record 20-day streak of inflows, recording $152 million in outflows on Friday. Grayscale’s ETHE shed $48 million, and Bitwise’s ETHW posted a $40 million drop. Fidelity’s FETH saw $6 million in outflows. Only BlackRock’s ETHA stayed even, reporting no inflow or outflow and holding $10.7 billion in assets. The sector now manages $20 billion in total, representing 4.7% of Ethereum’s market value.
Trading volume for all spot Ethereum ETFs was $2.3 billion, with Grayscale’s ETH product leading at $289 million for the day. During the recent inflow streak, spot Ethereum ETFs recorded their highest-ever daily inflow of $727 million on July 16, followed by $602 million the day after.
Standard Chartered noted that companies are accumulating Ether at twice the pace of Bitcoin. Since June, crypto treasury firms have bought about 1% of all circulating Ethereum. The report suggests that this trend, along with steady ETF inflows, has fueled Ether’s recent price rally. The bank also projects that corporate holdings could eventually reach 10% of Ethereum’s total supply, as firms benefit from staking and decentralized finance (DeFi) opportunities.
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