US-listed spot Bitcoin exchange-traded funds recorded US$1.17 billion of net redemptions in the week ended 22 August, the second-largest weekly outflow since trading began. BlackRock’s iShares Bitcoin Trust accounted for more than half of the withdrawals, losing US$615 million. Spot Ethereum products also reversed course, posting US$238 million in net outflows and ending a 14-week streak of inflows. Flows turned positive at the start of the new week. On 25 August the Bitcoin funds attracted about US$219 million, halting a six-day run of redemptions, while Ethereum vehicles drew roughly US$444 million—twice the day’s intake for Bitcoin—suggesting investors were willing to ‘buy the dip’ after the sharp sell-off. The repositioning followed a broad market pullback that drove Bitcoin briefly below US$110,000 and pushed Ether under US$4,400. Data from derivatives-tracking platforms show nearly US$900 million of leveraged positions were liquidated within 24 hours, with Ether longs bearing the brunt of the forced exits. Analysts said over-extended leverage and weaker risk sentiment after an equity-market setback amplified the price decline. Despite the volatility, the latest daily inflows lifted total assets in US Bitcoin and Ethereum ETFs to about US$244 billion, underscoring continued institutional interest even as traders brace for further swings ahead of key US economic releases later this week.