Cryptocurrency investment products reversed the emerging trend of capital inflows, with significant outflows occurring last week as Bitcoin and Ethereum prices fell.
CoinShares reported on Monday that global cryptocurrency exchange-traded products (ETPs) experienced outflows of $1.43 billion last week, ending a trend that had brought in $4.3 billion over the previous two weeks.
According to CoinGecko data, the outflows coincided with Bitcoin (BTC) dropping from over $116,000 on August 18 to $112,000 by the end of the trading weekend, while Ethereum (ETH) fell below $4,100 on Tuesday from around $4,250 at the beginning of the week.
Data from SoSoValue indicated that last week's losses marked the second-largest outflow on record for spot Ethereum exchange-traded funds (ETFs), with nearly $430 million withdrawn in just one day on Tuesday.
James Butterfill, head of research at CoinShares, stated that the $1.4 billion outflow from cryptocurrency funds was the largest loss since March 2025.
Butterfill attributed the sell-off to investors' increasingly polarized sentiment regarding U.S. monetary policy, with pessimism about the Federal Reserve's stance driving $2 billion in outflows earlier in the week.
"However, sentiment shifted later in the week after Jerome Powell's speech at the Jackson Hole symposium, which was widely interpreted as more dovish than expected, leading to inflows of $594 million," he added.
Butterfill noted that the sentiment shift was more pronounced in Ethereum, which saw a sharp rebound mid-week, ultimately recording $440 million in outflows.
The outflow from Bitcoin ETPs was significantly larger, totaling over $1 billion.
Analysts emphasized that given the inflow situation so far this month, investor sentiment towards Bitcoin and Ethereum has changed significantly, with Bitcoin experiencing $1 billion in outflows while Ethereum saw $2.5 billion in inflows.
"Ethereum's inflows year-to-date account for 26% of total assets under management, while Bitcoin's is only 11%," Butterfill added.
Meanwhile, the flow of funds into altcoins was mixed, with Ripple (XRP) recording $25 million in inflows, Solana (SOL) gaining $12 million, while Sui (SUI) and Toncoin (TON) saw outflows of $13 million and $1.5 million, respectively.
Related: $11 billion Bitcoin (BTC) whales make a big bet on Ethereum's rise, bottoming out with $108 million in spot ETH
Original article: “Recent Bitcoin (BTC) and Ethereum (ETH) sell-off leads to largest loss for cryptocurrency ETPs since March, with outflows of $1.43 billion”
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