US Bitcoin ETFs See Significant Outflows Amid Market Decline

Last week, US spot Bitcoin exchange-traded funds (ETFs) faced substantial outflows totaling $277 million, as the cryptocurrency market struggled with Bitcoin prices remaining below $60,000 and most altcoins continuing their downward trend.

According to Farside Investors, on Monday, Bitcoin funds in the US saw inflows of approximately $202 million, with BlackRock’s iShares Bitcoin Trust (IBIT) contributing the largest share, securing over $224 million in net inflows for the day. However, this positive momentum quickly reversed.

By Tuesday, outflows from Bitcoin ETFs began, continuing through to Friday. In total, about $480 million was withdrawn from these funds over the week. Notably, Friday saw the highest single-day outflow since August 2, with over $175 million pulled from US Bitcoin ETFs.

Despite a strong start, BlackRock’s IBIT experienced its second-ever outflow since its inception but managed to finish the week with a net inflow of around $210 million due to Monday’s positive inflows.

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Among Bitcoin spot ETFs, Ark Invest/21Shares’ Bitcoin fund (ARKB) and Grayscale’s Bitcoin ETF (GBTC) faced the largest losses, with ARKB seeing a $220 million outflow and GBTC losing $119 million.

During this period, Bitcoin’s price fell about 9%, from $64,500 on August 26 to $58,000 by August 30. Currently, Bitcoin is trading around $57,700, reflecting a 10% decline over the past week, according to TradingView.

Alexander Stefanov

With over 8 years of experience in the cryptocurrency and blockchain industry, Alexander is a seasoned content creator and market analyst dedicated to making digital assets more accessible and understandable. He specializes in breaking down complex crypto trends, analyzing market movements, and producing insightful content aimed at educating both newcomers and seasoned investors. Alexander has built a reputation for delivering timely and accurate analysis, while keeping a close eye on regulatory developments, emerging technologies, and macroeconomic trends that shape the future of digital finance. His work is rooted in a passion for innovation and a firm belief that widespread education is key to accelerating global crypto adoption.