Bitcoin ETF sees $61 million outflow, Ethereum ETF in demand

The US spot Bitcoin ETFs saw a net outflow of $61.16 million on 12 August. At the same time, the Ethereum ETFs are faring considerably better, recording an inflow of $7.38 million. A striking contrast on a day when the Bitcoin price hovers around $64K.

Bitcoin is available at OKX and Bybit.

In brief:

• Bitcoin ETFs saw a net outflow of $61.16 million on 12 August, with Fidelity recording the largest exodus.
• Ethereum ETFs, by contrast, posted an inflow of $7.38 million, entirely through BlackRock’s ETHA fund.
• Independent data from Farside Investors confirms the same figures.

Fidelity withdraws the most Bitcoin

Of all the Bitcoin ETF providers, it was Fidelity’s FBTC that took the biggest hit on 12 August. Investors withdrew $46.82 million through that fund, accounting for the bulk of the total net outflow of $61.16 million that day. Recent ETF flows have often been erratic, but this is once again a day on which confidence in Bitcoin funds has waned.

Data aggregator Farside Investors independently publishes the same rounded figures: $61.1 million in outflows from Bitcoin ETFs. That lends extra weight to the numbers, as multiple sources corroborate one another. The total asset base of the spot Bitcoin ETFs currently stands at $77.37 billion.

Ethereum ETF takes the spotlight

While Bitcoin investors are pulling money out, funds are instead flowing towards Ethereum vehicles. The net inflow of $7.38 million on 12 August went entirely to BlackRock’s ETHA fund. Other Ethereum ETFs recorded no inflows or outflows that day. Notably, the Ethereum price against Bitcoin has been breaking a longer-term downward trend, which could explain the renewed interest in Ethereum funds.

Farside Investors also confirms these figures, with an inflow of $7.4 million for the Ethereum ETFs. The move toward ETHA fits a broader trend in which BlackRock is increasingly favoured by institutional investors looking to enter crypto funds.