ETF Flows Recap

Spot bitcoin ETFs logged -$125.4M ↓ in net outflows in Thursday's settled session, according to InflowScan data, snapping the constructive tone that carried the 30-day tape. Issuer reports for Friday, August 14 have not yet settled and will be reflected in Monday's brief.

Redemptions were concentrated in three funds. ARK Invest's ARKB led with -$58.8M ↓, followed by Fidelity's FBTC at -$55.1M ↓ and Grayscale's GBTC at -$36.3M ↓. The three products alone drove more than $150M in gross exits, a concentration that points to fund-of-fund routing or single-desk rebalancing rather than a broad retail impulse.

On the inflow side, Grayscale's mini-trust BTC absorbed +$38.9M ↑ and Morgan Stanley's MSBT pulled +$7.1M ↑. The GBTC-to-BTC pattern is consistent with prior episodes of fee-driven rotation inside the Grayscale complex; net Grayscale bleed narrowed to roughly $2.6M once the mini-trust offset is applied.

  • ARKB (ARK Invest): -$58.8M ↓
  • FBTC (Fidelity): -$55.1M ↓
  • GBTC (Grayscale): -$36.3M ↓
  • BTC (Grayscale mini): +$38.9M ↑
  • MSBT (Morgan Stanley): +$7.1M ↑

Ether and Solana ETF flow data for Thursday had not settled at the time of writing. The bitcoin picture is the cleaner read for Friday's open.

Asset Prices

Bitcoin trades at $62,902, down 0.9% over 24 hours and 0.6% on the week. The 30-day print remains a solid +13.7% ↑, so Thursday's tape reads as consolidation inside a broader uptrend rather than a trend break. The $62,000 handle is the near-term line to watch; a failure to defend it would open air to the mid-$60,000s from earlier in the month.

Ether sits at $1,878.67, off 0.4% on the day and -3.7% ↓ on the week — the softest one-week performance in the majors. The relative underperformance versus bitcoin's flat weekly print is worth flagging as flow data catches up.

Solana is the standout, at $75.55 with a 7-day gain of +9.2% ↑ and a 30-day gain of +15.6% ↑. XRP holds the $1.00 handle, up 1.7% on the week and 8.4% on the month.

Stablecoin Pulse

Aggregate dry powder was roughly flat in the last 24 hours. USDC supply drew down $55.4M to $72.1B and USDT drew down $22.1M to $183.0B, per InflowScan data. A combined ~$77M reduction against a $255B float is noise, not a signal — sidelined capital is neither building nor deploying with conviction.

Outlook

Two data points frame Friday's session. First, whether Thursday's ARKB/FBTC/GBTC redemption cluster was a one-day rebalance or the start of a wider issuer-level rotation — Monday's settled prints will answer that. Second, whether bitcoin defends the $62,000 handle into the weekend; a hold there keeps the 30-day uptrend intact, while a break would put the recent range floor in play.

Ether's relative weakness is the sub-plot. A week where ETH lags BTC by more than four points on flat spot volumes is historically associated with positioning unwinds rather than fresh shorts. Watch ETH/BTC into the weekly close.