This Friday, the net outflow of spot Bitcoin ETFs reached $812 million in a single day, marking the second-largest single-day fund withdrawal in the history of such products.
This wave of capital outflow erased the continuous net inflow from the previous week, bringing the cumulative net inflow down to $54.18 billion, with total assets under management sliding to $146.48 billion, accounting for 6.46% of Bitcoin's total market value, according to SoSoValue data.
Fidelity's FBTC became the main driver of the outflow, with redemptions reaching $331 million in a single day; Ark Invest's ARKB followed closely with an outflow of $328 million; Grayscale's GBTC also saw a net outflow of $66.79 million. In contrast, BlackRock's IBIT only experienced an outflow of $2.58 million.
Despite this, market trading remained active, with the total trading volume of all spot Bitcoin ETFs reaching $6.13 billion on that day, of which IBIT contributed $4.54 billion, indicating ongoing market interest in the product.
Meanwhile, the Ethereum spot ETF ended its longest streak of consecutive net inflows to date. After recording net inflows for 20 consecutive trading days, the sector saw an outflow of $15.226 million last Friday. The total assets under management now stand at $20.11 billion, accounting for 4.70% of Ethereum's (ETH) market value.
Grayscale's ETHE saw the largest outflow, totaling $4.768 million; Bitwise's ETHW followed with an outflow of $4.030 million; Fidelity's FETH also recorded an outflow of $617,000. Only BlackRock's ETHA had no inflows or outflows that day, maintaining its assets at $10.71 billion.
The total trading volume of all Ethereum spot ETFs that day was $2.26 billion, with Grayscale's products being the most actively traded, reaching a daily trading volume of $288.96 million, reflecting ongoing market volatility.
In the previous strong inflow, July 16 set a record with a single-day inflow of $726.74 million, and July 17 also recorded a net inflow of $602.02 million, showing strong market interest in Ethereum products.
According to a recent report by Standard Chartered, since early June, the pace at which institutional investors are purchasing Ethereum has been twice that of Bitcoin, with some crypto asset management firms accumulating approximately 1% of the total circulating supply of Ethereum.
The report noted that this trend of institutional accumulation, combined with the continuous inflow of funds into U.S. spot Ethereum ETFs, is a key driver of the recent rise in Ethereum prices. Standard Chartered predicts that if the current trend continues, ETH could surpass the target price of $4,000 by the end of the year.
Looking ahead, Standard Chartered forecasts that corporate Ethereum treasury holdings could grow to account for 10% of the total supply, due to the additional yield mechanisms available through staking and DeFi, which enhance institutional holding incentives.
Related: BlackRock's Bitcoin (BTC) fund experiences the largest outflow since May
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