Spot Bitcoin and Ethereum exchange-traded funds (ETFs) in the United States faced another wave of redemptions on Aug. 20, marking the fourth straight day of net outflows.
The losses highlight how investor sentiment has turned cautious amid recent volatility in the crypto market.
Bitcoin ETFs Approach $1 Billion in Outflows
According to SoSoValue data, US spot Bitcoin ETFs recorded $311.57 million in redemptions on Aug. 20, bringing their four-day total to almost $1 billion.
BlackRock’s iShares Bitcoin Trust (IBIT) once again led the pack, with $220 million withdrawn, equivalent to around 1,940 BTC. Ark 21Shares’ ARKB followed with $76 million in outflows, while Fidelity’s FBTC and Grayscale’s GBTC posted smaller redemptions of $7 million and $8 million, respectively.
Despite these withdrawals, trading volumes across Bitcoin ETFs remain elevated, suggesting investors are still active but shifting positions rather than exiting the market entirely.
Ethereum ETFs Hit With $925 Million in Redemptions
Ethereum ETFs have also been hit hard. On Aug. 20 alone, they shed $240 million, pushing their four-day losses to more than $925 million.
BlackRock’s Ethereum fund (ETHA) took the largest hit, with $257 million in withdrawals—roughly 63,280 ETH—making it the fund’s second-largest single-day outflow since launching earlier this year.
However, not all issuers suffered losses. Fidelity’s FETH and Grayscale’s mini Ethereum ETF managed to attract a combined $17 million in inflows, partially offsetting the day’s broader redemptions.
Weakening Sentiment Amid Market Struggles
The steady outflows reflect cooling sentiment in the short term, as both Bitcoin and Ethereum struggle to sustain upward momentum. Over the past week, both assets have slipped from key resistance levels, leading some institutional investors to reduce exposure.
Still, market data from CryptoSlate shows BTC and ETH have managed to bounce about 2% in the past 24 hours, suggesting that some traders are buying the dip despite the heavy ETF withdrawals.
With nearly $2 billion exiting Bitcoin and Ethereum ETFs in less than a week, analysts say the coming days will be critical in determining whether the trend is a temporary pullback—or the start of a deeper correction in institutional appetite for crypto exposure.
The information provided in this article is for informational purposes only and does not constitute financial, investment, or trading advice. Coindoo.com does not endorse or recommend any specific investment strategy or cryptocurrency. Always conduct your own research and consult with a licensed financial advisor before making any investment decisions.
Alex is an experienced financial journalist and cryptocurrency enthusiast. With over 8 years of experience covering the crypto, blockchain, and fintech industries, he is well-versed in the complex and ever-evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His approach allows him to break down complex ideas into accessible and in-depth content. Follow his publications to stay up to date with the most important trends and topics.
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