US spot Bitcoin ETFs experienced their worst week in two months, with approximately $390 million in net outflows between August 10 and 14. These outflows erased the optimism from early August, which had seen over $750 million in inflows. BlackRock’s iShares Bitcoin Trust led the redemptions, consistent with its dominant role during June’s record $4.5 billion outflow event. Despite a brief positive blip in July, year-to-date cumulative flows remain in negative territory for the category. The pattern of sharp reversals suggests ETF investors are trading these products tactically rather than holding them as long-term allocations.
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