BTC and ETH spot ETFs experience capital outflows for 3 consecutive days, with a total net outflow of $945 million yesterday.
On August 20, according to Farside data, the U.S. Bitcoin spot ETF saw a net outflow of $523 million yesterday, marking 3 consecutive days of capital outflows.
Among them, Fidelity's Bitcoin spot ETF FBTC topped the single-day net outflow list with nearly $247 million;
followed by Grayscale's Bitcoin Trust ETF GBTC, which recorded a net outflow of nearly $116 million in a single day;
next was Bitwise's BITB and Ark & 21 Shares' ARKB, with single-day net outflows of $86.8 million and $63.3 million, respectively;
and Grayscale's Bitcoin Mini Trust ETF BTC and Franklin's EZBC had net outflows of $7.5 million and $3.3 million yesterday, respectively.
On the same day, the Ethereum spot ETF also had a net outflow of $422 million, similarly recording 3 consecutive days of capital outflows.
Among them, Fidelity's Ethereum spot ETF FETH led the single-day net outflow list with $156 million;
followed by Grayscale's Ethereum Trust ETF ETHE and its Mini Trust ETF ETH, which had net outflows of $122 million and $88.5 million in a single day;
while Bitwise's ETHW, BlackRock's ETHA, Franklin's EZET, and VanEck's ETHV recorded single-day net outflows of $39.8 million, $6.3 million, $6.3 million, and $3 million, respectively.
In summary, although the continuous 3-day capital outflows from Bitcoin and Ethereum spot ETFs may indicate short-term market uncertainty, analysts believe that this is more likely a short-term profit-taking by institutions rather than a trend reversal.
Historically, similar scales of capital outflows are often accompanied by short-term market adjustments, but long-term investors tend to view such pullbacks as opportunities for positioning.
Moreover, despite the outflows, the total assets under management of U.S. cryptocurrency ETFs remain at a high level.
At the same time, as the September Federal Reserve meeting approaches and regulatory policies become clearer, institutional funds may be reassessing the value of crypto asset allocation.
What are your thoughts on this? Do you see it as a signal for market adjustment, or as a good opportunity to enter the market? Leave your views in the comments!
