Crypto ETFs Shed $440M as Outflows Resume in Bitcoin and Ether Funds

U.S.-listed crypto exchange-traded funds swung back to net redemptions on Monday, July 13, after logging their first positive week in two months. Data from SoSoValue showed investors pulled a combined $440.07 million from spot crypto ETFs, led by $424.66 million in spot Bitcoin ETF outflows and $15.41 million from spot Ether products. The move undercut an early-July rebound that followed June's record withdrawals and highlighted uneven institutional demand, with Bitcoin trading around $62,500 on Tuesday. Bitcoin ETFs post July's largest one-day outflow SoSoValue reported that spot Bitcoin ETFs saw $424.66 million leave during Monday's session, the largest daily outflow so far in July. The prior week had brought $197.4 million of net inflows, snapping eight straight weeks of redemptions, but the recovery lasted only one reporting period. After Monday's activity, the group's combined net assets were pegged at $74.79 billion. Cumulative net inflows since launch remained positive at $50.85 billion. June marked the steepest monthly pullback for the category, with $4.51 billion redeemed. Estimates cited in the report suggested that by mid-July, 2026 net outflows had approached $5.8 billion. The SEC approved the first wave of spot Bitcoin ETFs on Jan. 10, 2024, covering 11 products listed on Nasdaq, NYSE Arca and Cboe BZX. The approvals opened a regulated channel for brokerage-account investors, while day-to-day fund flows have become a closely watched proxy for institutional risk appetite. Selling pressure concentrated in major Bitcoin funds Fund-level figures indicated that the largest redemptions on Monday were concentrated in the biggest vehicles. BlackRock's iShares Bitcoin Trust and Fidelity's Wise Origin Bitcoin Fund were cited as seeing heavy withdrawals. Social-media estimates translated BlackRock's outflow to roughly 2,990 BTC, valued near $185.5 million, while Fidelity's reported daily outflow was about $245.6 million. The report noted that coin-based estimates are less reliable than the dollar flow data because creations and redemptions can be cash-settled and affected by timing differences and price moves. BlackRock's product page showed IBIT's net asset value fell 2.89% on July 13. The issuer says the fund is designed to track Bitcoin's price performance while reducing custody and operational frictions versus holding BTC directly, though investors still face volatility, liquidity and tracking risks. Fidelity's prospectus describes FBTC as tracking a proprietary Bitcoin reference rate built from eligible spot-market data. Ether funds also see renewed redemptions Spot Ether ETFs also returned to net outflows, though at a much smaller scale. SoSoValue recorded $15.41 million leaving U.S. spot Ether funds on Monday. A post cited in the report attributed the move to roughly 8,720 ETH redeemed from Fidelity's Ethereum Fund and estimated an additional reduction from BlackRock's Ether product. The report flagged a labeling mistake in the same post: it described 3,960 units as Ether while assigning a $245.62 million value, a figure consistent with Bitcoin at prevailing prices. As a result, the dollar flow numbers were treated as the more dependable measure. The broader takeaway was that institutional selling was more pronounced in Bitcoin than in other listed crypto products, several of which showed zero net flow in the social-media dataset. The report also cautioned that one-day moves do not prove institutions have exited the market, since authorized participants can redeem shares for rebalancing, arbitrage and liquidity management. ETF outflows diverge from whale accumulation CryptoQuant analyst Sunny Mom highlighted a divergence between traditional finance flows and large-holder behavior. The analyst tracked nearly $10 billion leaving spot funds since Oct. 11, 2025, while CryptoQuant data showed a steady increase in new Bitcoin whales over the same period. The analyst said accumulation could help limit downside without confirming a broad market bottom. CoinGecko put Bitcoin near $62,589 during the reporting window, while a separate July 14 market update cited roughly $62,521 during Tuesday trading. Bitcoin was about 30% below its level at the start of 2026, suggesting ETF redemptions have coincided with a broader repricing rather than a standalone fund-driven shock. The next key data point cited was the July 14 U.S. ETF flow report, which investors are expected to watch to determine whether the redemptions continued or Monday's pullback proved temporary.