Spot Bitcoin exchange-traded funds (ETFs) experienced significant net outflows totaling $812.25 million. This movement was predominantly driven by large redemptions from Fidelity’s FBTC, which saw $331.42 million exit, and ARK Invest’s ARKB, with outflows of $327.93 million.
Simultaneously, U.S. spot Ether ETFs witnessed a notable reversal, ending a 20-day consecutive inflow streak. These funds registered net outflows of $152.26 million. Grayscale’s ETHE led the withdrawals at $47.68 million, followed by Bitwise’s ETHW with $40.30 million in outflows.
Despite the outflows, trading activity remained robust across both asset classes. Bitcoin ETFs recorded a trading volume of $6.13 billion, while Ether ETFs saw a volume of $2.26 billion.
Interest in Ether from corporate entities appears to be growing. Crypto treasury firms have accumulated approximately 1% of Ethereum’s circulating supply since June, indicating a separate, underlying corporate demand trend.
The outflows observed in Bitcoin ETFs are widely viewed as reflecting profit-taking by investors amidst ongoing market volatility. The shift in Ether ETFs follows a preceding period of record inflows recorded earlier in the month of July.