Crypto ETF Outflows Reach $250M as Bitcoin Funds Take a Hit

The crypto ETF market experienced a significant shift on July 31, with U.S.-listed funds recording about $250 million in net outflows.

Bitcoin ETFs were the main drivers of this decline, with a staggering $265.37 million in redemptions, according to Farside Investors' data.

The largest contributors to these withdrawals were BlackRock's iShares Bitcoin Trust and Fidelity's Wise Origin Bitcoin Fund, which lost $122.66 million and $54.78 million respectively.

In contrast, Ethereum ETF products attracted a relatively small amount of inflows, with spot Ethereum funds receiving $9.03 million in net inflows, led by BlackRock's product.