Investors moved $798 million, out of US spot Bitcoin and Ethereum ETFs on August 4, marking one of the largest single-day outflows this year.
According to data from SoSoValue, Ethereum funds recorded a daily net outflow of $465.06 million on August 4. This came shortly after a strong July, when ETH spot ETFs gained $5.43 billion, the largest monthly inflow the ETF has seen since its launch. Despite the latest outflow, total net assets across Ethereum ETFs remain at $20.47 billion.
As per CoinMarketCap, ETH is currently trading around $3,670, slightly lower than July’s average of $3,740.
Outflows in Bitcoin ETFs Continue
Bitcoin ETFs on the other hand saw $333.19 million in net outflows on the same day. The total net outflow Bitcoin ETFs has seen this month now sits around $1.14 billion as the previous day also recorded a net outflow of $812.25 million. This followed a solid month where Bitcoin funds gained $6.02 billion in July.
Current total assets held by BTC spot ETFs stand at $147.96 billion. Bitcoin is currently trading around $114,780, just below July’s average of $116,790.
A larger chunk of the outflow on August 4 was made by BlackRock’s ETF funds for both Ethereum and Bitcoin.
Profit Taking from Short-Term Investors
There was no major news tied to the movement, but the size of the outflows suggests that some investors may be locking in profits or waiting for clearer signals before making new moves. Some market watchers feel the outflows may just be part of usual market movement after a period of gains.
Even with the drop, the funds still hold more than they did earlier months. Both ETH and BTC ETFs are up compared to earlier months. Big firms like BlackRock, Fidelity, and Grayscale are still backing them.
Some market analysts believe the outflow might not last long. If prices stay stable or trust returns, more people may start buying again.
Spot ETFs have become one of the most common ways for institutions and retail investors to gain exposure to crypto without holding coins directly. Even with sharp daily movements, total holdings in both Bitcoin and Ethereum ETFs show just how much the space has grown.
All eyes will now be on the rest of August to see if this was a brief pause or the start of something bigger.
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