US-listed spot Bitcoin exchange-traded funds saw roughly $1.2 billion of net redemptions in the week to Aug. 23, the second-biggest weekly outflow on record, even as the token’s price hovered near $115,000. BlackRock’s iShares Bitcoin Trust was responsible for about half of the withdrawals, shedding $615 million. Fidelity’s Wise Origin fund lost $235 million and the ARK 21Shares vehicle bled $182 million. A handful of smaller products, including VanEck’s HODL, recorded modest inflows but were unable to offset the broader selling pressure. Investor cash moved in the opposite direction for ether-linked products. Ethereum ETFs attracted about $288 million on Aug. 21, $300 million on Aug. 22 and $337 million on Aug. 23, underscoring growing demand for exposure to the second-largest cryptocurrency. Despite the latest pullback, assets in spot Bitcoin ETFs reached a record $134.6 billion at the end of the second quarter, with institutions reporting $33.6 billion of holdings in recent 13F disclosures. Combined Bitcoin and Ethereum vehicles now account for a record 1.6% of assets across all US-listed ETFs, eight times their share two years ago.