Fidelity Leads $389.7M Bitcoin ETF Weekly Outflow With $153M Exit

Bitcoin ETFs Reverse Prior Week’s Rally With $389.7M Outflow

The rush into crypto ETFs cooled quickly.

After bitcoin funds posted their strongest week since April, investors spent much of the following five sessions trimming exposure. The selling was broad, persistent and concentrated in some of the market’s largest products.

By Friday’s close, bitcoin ETFs had suffered four negative sessions out of five.

Bitcoin Gives Back Part of Its August Rally

The week opened with a $144.67 million bitcoin ETF outflow, ending the five-day inflow streak carried over from the prior week.

Tuesday offered only brief relief. A $4.89 million net inflow, supported by $50.20 million into Blackrock’s IBIT, was followed by withdrawals of $61.16 million on Wednesday and $131.13 million on Thursday. Another $57.63 million left the funds on Friday.

The weekly loss reached $389.7 million.

Fidelity’s FBTC suffered the largest withdrawal at $153.2 million. Grayscale’s GBTC lost $88.3 million, while Blackrock’s IBIT recorded $78.9 million in net outflows. ARK 21Shares’ ARKB shed $70.3 million, and Bitwise’s BITB lost $31.6 million. Franklin Templeton’s EZBC posted $23.9 million in withdrawals.

Hashdex’s DEFI also lost $4.3 million as investors continued to exit ahead of the fund’s planned liquidation. Grayscale’s Bitcoin Mini Trust was one of the few winners, adding $75.98 million. Morgan Stanley’s MSBT attracted $7.08 million.