Bitcoin ETFs Suffer Largest Weekly Outflow Since Late June

U.S.-listed Bitcoin ETFs saw their largest weekly outflow since late June, draining $389.7 million in the week of August 10.

This outflow reverses the $853.5 million they pulled in the prior week, according to SoSoValue data.

The last time outflows were larger was the week ending July 2, when funds shed $526.64 million.

These withdrawals come on the heels of a major cold wallet hack that raised investor interest in holding Bitcoin through regulated vehicles rather than self-custody.

However, Goldman Sachs' Chief Economist Jan Hatzius notes that soft retail sales and slowing employment figures make a September rate increase 'very unlikely', which could bode well for risk assets like Bitcoin.