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Bitcoin (BTC) price climbed back to $56,000, leading the crypto market recovery from the recent aggressive sell-off. Ether also made a surge to regain the $2,500 mark after dipping below $2,200. Data shows that BTC and ETH-linked exchange-traded funds (ETF) took a major hit during the downturn. 
<a href="https://www.cryptopolitan.com/ether-crashes-eth-etfs-record-heavy-outflow/">Crypto ETFs</a> saw around $500 million in outflows during the global market downturn. Bitcoin ETFs alone reported an outflow of more than $400 million since the beginning of August. ETH ETFs saw outflows of $341.35 million and $169.35 million in the first and second weeks, respectively. 
<h3 id="span-style-font-weight-400-bitcoin-etfs-outflow-breaches-400m-span">Bitcoin ETFs outflow breaches $400M</h3> 
According to <a href="https://sosovalue.com/assets/etf/us-btc-spot" rel="nofollow noopener" target="_blank">data</a> reports, Bitcoin ETFs recorded a net outflow of $168.44 million on August 5. Grayscale’s GBTC saw an outflow of $69.12 million over the past day, while, it has reported a drainage of around $19.13 billion to date. 
ARK 21Shares Bitcoin ETF and Fidelity’s FBTC had a negative flow of $69 million and $58 million, respectively. Grayscale Bitcoin mini trust reported an inflow of $21.8 million, moving against the general market direction. 
Spot <a href="https://www.cryptopolitan.com/spot-bitcoin-etfs-continue-streak-with-486m/">Bitcoin ETFs</a> have seen a cumulative outflow of $423 million in the last 5 trading days. On August 2, 2024, these investment funds had a massive outflow of $237.35 million triggering a BTC price decline. 
<figure id="attachment_564435" aria-describedby="caption-attachment-564435" style="width: 100%" class="wp-caption alignnone">
 <img loading="lazy" decoding="async" class="wp-image-564435 size-full" src="https://www.cryptopolitan.com/wp-content/uploads/2024/08/btc-etf.jpg" alt="" width="565" height="251" srcset="https://www.cryptopolitan.com/wp-content/uploads/2024/08/btc-etf.jpg 565w, https://www.cryptopolitan.com/wp-content/uploads/2024/08/btc-etf-300x133.jpg 300w" sizes="(max-width: 565px) 100vw, 565px">
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 Source: Sosovalue
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</figure> 
Bitcoin price is down by over 17% in the last 7 days. The largest crypto by market cap endured a dump from the $66,000 to $50,000 zone. BTC has recovered more than 6% in the last 24 hours. It is trading at an average price of $55,205 with a market cap of $1.08 trillion, at press time. 
<h3 id="span-style-font-weight-400-ether-etfs-enjoy-positive-flows-this-week-span">Ether ETFs enjoy positive flows this week&nbsp;&nbsp;</h3> 
The newly launched Ether-linked ETFs posted major weekly losses affecting the market movement of the largest altcoin by market cap. ETH ETFs saw outflows of $341.35 million and $169.35 million in the first and second weeks, respectively. A positive flow is expected in the 3rd week. 
Although <a href="https://www.cryptopolitan.com/ether-etf-strong-debut-eth-price-declines/">Ether ETFs</a> had very rough starts, they managed to maintain positive flow rates amid the recent fluctuations in investor sentiments. On August 5, the total net inflow of ETH ETFs stood at $48.73 million. Only Grayscale’s ETHE reported a negative outflow of $46.84 million over the last day. 
BlackRock’s ETHA saw an inflow of $47.09 million. Fidelity’s FETH and VanEck’s ETHV both had inflows of over $16 million each. Grayscale ETF ETHE had an outflow of $46.8384 million, BlackRock ETF ETHA had an inflow of $47.0857 million, and VanEck ETF ETHV had an inflow of $16.6247 million. 
ETH price is down by 26% in the last 7 days, dealing with some bearish sentiments. However, it posted a recovery rally of 8% in the last 24 hours. ETH currently trades at an average price of $2,460, at the press time.

Bitcoin ETFs bleed $400 million as BTC reclaims $56K

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