Bitcoin ETF Had a Net Outflow of 1,205 BTC on August 5

Bittime - Based on data from Lookonchain Yesterday, 10 ETF Bitcoin recorded a net outflow of 1,205 BTC. This is equivalent to around 65.49 million US dollars, which indicates a decline in interest or sales of Bitcoin ETF products.

Fidelity: The Biggest Sell-Off in the Bitcoin ETF Market

Source: Twitter.com/lookonchain 

One that attracted attention was the Fidelity Wise Origin Bitcoin Fund which recorded a net outflow of 1,661 BTC, equivalent to around 90.26 million US dollars. 

Even so, Fidelity still holds 178,088 BTC, which, if calculated based on current values, is worth around 9.68 billion US dollars. 

These numbers show that despite significant selling, Fidelity still has a large share of the Bitcoin ETF market.

Read Also: Bitcoin Price Below Support Level $57,000, Potential Drop to $40,000?

Net Outflow Other Bitcoin ETFs

Apart from Fidelity, several other Bitcoin ETFs also experienced significant outflows. For example, ARK 21Shares The Bitcoin ETF recorded a decline of 1,399 BTC in one day, and the Bitwise Bitcoin ETF experienced an outflow of 469 BTC. 

Other ETFs such as Vaneck Bitcoin Trust and Grayscale Bitcoin Trust also recorded declines, although by smaller amounts.

However, not all Bitcoin ETFs record outflows. iShares (Blackrock) Bitcoin Trust actually recorded a net inflow of 683 BTC, which shows there is buying interest. Apart from that, other ETFs such as the Grayscale Bitcoin Mini Trust recorded an inflow of 3,015 BTC.

Ethereum ETF: Similar Performance to Bitcoin

Apart from Bitcoin, the ETF market Ethereum also recorded significant outflow. Data from Lookonchain shows that 9 Ethereum ETFs recorded a net outflow of 22,779 ETH, equivalent to approximately 54.94 million US dollars. 

Despite still holding around 2,004,828 ETH, the Grayscale Ethereum Trust recorded the largest outflow with an amount of 25,045 ETH, which is worth around 4.84 billion US dollars.

However, there are several Ethereum ETFs that actually record inflows. For example, the Grayscale Ethereum Mini Trust recorded an inflow of 24,971 ETH, while the iShares (Blackrock) Ethereum Trust recorded an inflow of 83,940 ETH.

Read Also: Today's Bearish Market Trend, Long-Term Negative Sign?

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