Bitcoin ETF Demand Plunges, Solana Sees Strong Inflow

Bitcoin's recent rebound was short-lived as U.S. spot Bitcoin ETFs saw net withdrawals of approximately $390 million during the week of August 10 through August 14, a sharp reversal from the previous week's inflows of about $853.5 million.

The swing in demand is significant, with a total drop of over $1.2 billion in weekly net flows, according to flow data from Farside Investors. The daily numbers show that this was not one giant redemption distorting an otherwise normal week.

Four out of five trading days saw negative fund performance, with Monday losing about $145 million and Thursday about $131 million. Fidelity's FBTC took the biggest weekly hit in Farside's table, losing around $153 million.