Crypto ETFs experienced a significant reversal on July 31, with net outflows hitting around $250 million. Bitcoin-focused ETFs led the slide, pulling out $265.37 million, erasing the previous day’s inflows of $233.15 million. This sharp flip underscored how volatile fund allocations can be, especially at month-end.
BlackRock’s iShares Bitcoin Trust topped redemptions, losing $122.66 million, followed by Fidelity’s Wise Origin Bitcoin Fund and Grayscale’s Bitcoin Trust, which shed $54.78 million and $52.63 million respectively. Other Bitcoin ETFs, like Bitwise’s BITB and ARK 21Shares’ ARKB, also reported outflows close to $17 million each. On the other hand, Ethereum ETF products attracted $9.03 million, signaling uneven institutional interest across different crypto assets.
Bitcoin hovered near $63,500 during this period, a price level that seemed to weaken market momentum and may have contributed to the fund withdrawals. Market analyst Crypto Patel noted that ETFs possibly sold about 4,217 Bitcoin on July 31, almost equivalent to nine days’ worth of newly mined coins. Such moves highlight the dynamic nature of institutional crypto flows, which can shift sharply based on short-term positioning rather than long-term convictions.
This content is for informational purposes only and does not constitute financial advice.
