Spot Crypto ETFs See $1.4B Outflows As Bitcoin, Ether Slump

Cryptocurrency investment products reversed an emerging inflow trend, with significant outflows last week as Bitcoin and Ether prices declined.

Global crypto exchange-traded products (ETPs) saw $1.43 billion of outflows last week, ending a two-week inflow run that brought in $4.3 billion, CoinShares reported on Monday.

The outflows came amid Bitcoin (BTC) dipping from above $116,000 on Aug.18 to $112,000 by the end of the trading week, while Ether (ETH) tumbled below $4,100 on Tuesday after starting the week at around $4,250, according to CoinGecko.

Last week’s losses marked the second-biggest outflows on record for spot Ether exchange-traded funds (ETFs), with almost $430 million withdrawn on Tuesday alone, according to SoSoValue.

Largest outflows since March

According to CoinShares’ head of research, James Butterfill, the $1.4 billion in outflows from crypto funds were the biggest losses since March 2025.

Butterfill attributed the sell-off to “increasingly polarized” investor sentiment over US monetary policy, with pessimism around the Federal Reserve’s stance driving $2 billion outflows early in the week.

Daily flows in spot Bitcoin ETFs versus spot Ether ETFs. Source: SoSoValue

“However, sentiment shifted later in the week following Jerome Powell’s address at the Jackson Hole Symposium, which was widely interpreted as more dovish than expected, sparking inflows of $594 million,” he added.

Shift in tone reflected in Ethereum

Butterfill said the shift in tone was more strongly reflected in Ether, which saw a sharp mid-week recovery, resulting in $440 million of outflows.

Bitcoin ETPs saw significantly bigger outflows, totaling more than $1 billion.

Bitcoin Price, Stocks, CoinShares, Ethereum Price, Ethereum ETF, Bitcoin ETF
Crypto ETP flows by asset as of Friday (in millions of US dollars). Source: CoinShares

The analyst emphasized a notable change in investor sentiment toward Bitcoin and Ether given the month-to-date inflows, where Bitcoin has experienced $1 billion outflows versus Ether’s $2.5 billion of inflows.

Related: Bitcoin ETFs hit 5-day losing streak, but Pomp says BTC is oversold

“Inflows year-to-date for Ethereum represent 26% of total assets under management compared to just 11% for Bitcoin,” Butterfill added.

In the meantime, altcoin flows were mixed, with XRP (XRP) seeing $25 million in inflows, Solana (SOL) posting $12 million gains, while Sui (SUI) and Toncoin (TON) saw outflows of $13 million and $1.5 million, respectively.