Bitcoin ETF outflows hit $385M as Washington stalls on crypto rules

Bitcoin fell 2.8 percent to $63,011 as U.S. spot ETF outflows hit $385.2 million, 128 times Ether's $3.0 million.

Delta Exchange analyst Riya Sehgal said the "absence of aggressive downside acceleration is equally important," pointing to the narrow focus of the selling.

Four of five Bitcoin ETF sessions recorded outflows last week, with Monday's $144.6 million redemption the largest. Ether products saw nearly flat demand, while Solana ETFs attracted $10.26 million in fresh capital. The SEC cancelled its scheduled Friday meeting on crypto rules, citing an "unforeseen scheduling issue," and has not set a new date.

Bitcoin starts Sunday near the bottom of its widely referenced support range of $62,400-$63,000. A break below that level would undermine the range scenario, while sustained trading above $65,500 would test it. The Fed minutes due Wednesday — detailing a 9-3 vote to hold rates at 3.50 percent to 3.75 percent — could trigger sharp moves in yields and risk assets.

Fidelity, Grayscale lead $385M in weekly Bitcoin ETF redemptions

The distribution of flows is significant. Fidelity's FBTC led weekly redemptions at $153.23 million, followed by Grayscale's GBTC at $88.3 million and ARK 21Shares' ARKB at $70.36 million, according to SoSoValue data. BlackRock's IBIT shed $78.96 million.

Not all Bitcoin products bled. Grayscale's lower-fee Bitcoin Mini Trust took in $75.98 million, and Morgan Stanley's MSBT added $7.08 million. That split inside a single issuer's complex — GBTC out, Mini in — is a fee-and-structure story as much as a Bitcoin story. Institutions that still want BTC exposure are not all leaving the asset; some are leaving the expensive share class.

Ether products ended the week with a modest $2.26 million outflow. BlackRock's ETHA lost $16.39 million and Fidelity's FETH shed $5.6 million, partially offset by inflows into Grayscale's ETH ($15.07 million) and 21Shares' ETHB ($3.86 million). Among altcoin funds, SOL ETFs led with $10.26 million in inflows, followed by HYPE ($2.74 million) and XRP ($2.25 million).

Since inception, total Bitcoin ETF inflows stand at $51.86 billion. Assets in Ether products reach $11.46 billion, counting seed asset conversions. The worldwide cryptocurrency market is valued at $2.225 trillion, with Bitcoin at 56.8 percent dominance and Ether at 10.2 percent.

Fed minutes, inflation data and SEC timing set up the week ahead

The Fed minutes due Wednesday will detail the July 9-3 vote to keep rates steady at 3.50 percent to 3.75 percent. Three policymakers backed raising rates by 25 basis points. The division may prompt sharp moves in yields and risk assets.

Tuesday brings U.S. import and export prices at 08:30 ET and industrial production at 09:15 ET. Mesta founder Sandeep Pyapali described the new data as a "clean dovish signal," yet Bitcoin did not move higher. He cited ETF outflows as a continuing structural obstacle.

Monday's ETF flow print is the clearest test. Continued Bitcoin redemptions would confirm that institutional pressure remains concentrated in the largest cryptocurrency. Analyst guidance places support near $62,400-$63,000 and resistance near $64,000-$65,500. Bitcoin traded around $63,011 on Sunday, placing it near support.

The SEC has not rescheduled its cancelled crypto-rule meeting, keeping the timing of a regulatory driver uncertain. Weekend liquidity is thinner than weekday trading, which could intensify price swings if additional ETF outflows or unexpected geopolitical events emerge.

This article is for informational purposes only and does not constitute investment advice.