Key Highlights
- Bitcoin ETFs recorded $389.7 million in weekly outflows, their largest withdrawal in six weeks.
- Solana ETFs led weekly inflows with $10.26 million, their highest inflow since May.
- Morgan Stanley increased its holdings in several Bitcoin, Ethereum, and Solana ETFs during Q2.
U.S. crypto exchange-traded funds (ETFs) saw mixed flows in the week ended August 15, with investors pulling nearly $390 million from spot Bitcoin ETFs while Solana ETFs recorded their strongest weekly inflows since May.
According to data from SosoValue, U.S. spot Bitcoin ETFs recorded a net outflow of $389.7 million between August 10 and August 14, making their largest weekly withdrawal in six weeks. Ethereum ETFs also ended the period in negative territory, with about $2.25 million in net outflows.
Solana ETFs moved in the opposite direction, attracting $10.26 million during the week, the largest weekly inflow since May. XRP ETFs recorded $2.25 million in inflows, while HYPE ETFs attracted $2.74 million. Dogecoin ETFs saw about $564,840 in outflows.
BlackRock leads Bitcoin ETF withdrawals
The weekly withdrawal from Bitcoin ETFs came as Bitcoin traded around the $62,000 level, according to CoinGecko data.
On August 14, U.S. spot Bitcoin ETFs recorded $56.2 million in net withdrawals, marking the third straight trading day of outflows, according to Farside Investors. The three-day outflow had reached about $180 million.
BlackRock’s iShares Bitcoin Trust (IBIT) recorded the largest outflow on August 14, with about $55.5 million leaving the fund. Fidelity’s FBTC followed with a $6.8 million outflow.
Bitwise’s BITB moved against the wider trend, bringing in about $6.1 million during the session. Other major funds, including those from Grayscale, ARK, 21Shares, and VanEck, recorded no significant changes in flows that day.
Ethereum ETFs end week slightly lower
Ethereum ETFs also saw a similar story. On August 10, the funds saw a $14.59 million outflow led by BlackRock, with $23.8 million. Fidelity withdrew around $3.3 million that day as well.
The funds recorded another $1.76 million in outflows on August 11 before seeing inflows of about $7.38 million and $6.72 million on August 12 and August 13, respectively. No net flows were recorded on August 14.
Overall, the inflows during the latter part of the week were not enough to offset the earlier withdrawals, leaving Ethereum ETFs with about $2.25 million in net outflows for the period.
Solana ETFs lead weekly inflows
Solana ETFs were the strongest performers among the crypto ETF products covered during the week. The funds attracted $10.26 million in net inflows between August 10 and August 14, their highest weekly inflow since May.
XRP ETFs also recorded positive flows, attracting $2.25 million, while HYPE ETFs brought in $2.74 million. Dogecoin ETFs, by contrast, recorded approximately $564,840 in net outflows.
The different flow patterns show that investor demand remained uneven across crypto assets, even as the larger Bitcoin and Ethereum ETF markets recorded net withdrawals.
Morgan Stanley increases crypto ETF holdings
Weekly ETF flows do not tell the whole story about institutional interest in crypto ETFs. Morgan Stanley reported higher holdings across several crypto ETFs during the second quarter.
According to its filing with the U.S. Securities and Exchange Commission (SEC), the bank increased its position in BlackRock’s IBIT by 23%, from about 13.4 million shares to 16.5 million shares.
Morgan Stanley also increased its Fidelity Bitcoin ETF holdings by nearly 38%. Its iShares Ethereum Trust ETF (ETHA) position jumped about 202% to 4.6 million shares, while its Grayscale Ethereum Staking Mini ETF holdings rose about 26% to 5.1 million shares.
The bank also added exposure to Solana through the Grayscale Solana Staking ETF and Fidelity Solana Fund.
Fidelity seeks staking for Ethereum ETF
Meanwhile, Fidelity Investments is seeking to add staking to its Ethereum ETF.
The asset manager filed a proposal to add staking to the Fidelity Ethereum Fund (FETH). Under the proposal, the fund could stake up to 100% of its Ether under normal conditions, excluding assets needed for redemptions, expenses, and liquidity.
Fidelity said it would keep 85% of the staking rewards, with the remaining 15% going toward staking fees. The fund also plans quarterly cash distributions, although the payments are not guaranteed.
The proposal comes as issuers continue to expand the range of features available through U.S. crypto ETFs, even as weekly flows remain mixed across different assets.
Also Read: Binance Says Crypto Exchanges Are Becoming Financial Superapps
