Spot Bitcoin ETFs experienced significant outflows last week, recording $390 million in net outflows according to SoSo Value data. Fidelity's FBTC led the decline with $153.1 million in outflows, followed by BlackRock's IBIT with $129.1 million. The outflows represent a reversal from Bitcoin ETFs' recent recovery streak, with some ETFs witnessing zero flows on certain days during the week. As per Crypto Briefing, Bitcoin traded near $63,460 as investors awaited Federal Reserve guidance, with weak ETF flows, geopolitical tensions and elevated oil prices pressuring risk appetite. Technical analysis shows Bitcoin is stuck near $63,513 and building liquidity around $62,484, with resistance capped by an unfilled 4H FVG at $64,000-$65,000.
Despite ETF outflows, Fidelity's clients demonstrated significant institutional confidence by purchasing approximately $134 million worth of Bitcoin in just two days, marking their strongest two-day buying period since early July. According to Arkham data, this institutional activity comes as Bitcoin's volatility has dropped to levels lower than roughly 98.5% of all days in Bitcoin's history. However, the year-to-date picture remains challenging, with US spot Bitcoin ETFs recording approximately 102,000 BTC in net cumulative outflows for 2026. This contrasts sharply with 2024 and 2025, when cumulative ETF flows were positive for much of the year. Spot trading volume has also dropped to its lowest level since 2019, indicating reduced market participation despite selective institutional buying.
Greenlane Holdings posted a $24.8 million net loss in Q2 2026, largely due to a $19.1 million non-cash write-down on its digital asset holdings, specifically the BERA token of Berachain, which has dropped 76% this year. The company bought 81.3 million BERA tokens for $70.2 million, now valued at just $16.4 million. Greenlane shifted from cannabis accessories to a digital asset treasury strategy in late 2025, but the sharp decline in BERA's value and limited cash reserves raise concerns about its financial stability and future operations. The company's strategy mirrors MicroStrategy's Bitcoin approach but with higher risk due to focusing on a single, less liquid altcoin.
A whale address withdrew 5,300 ETH worth approximately $9.98 million from Kraken exchange, bringing total holdings to 5,430 tokens worth $10.25 million, plus an additional 224 ETH already staked. This follows a similar pattern from last month when the same address withdrew 357.1 ETH worth $566,000 and staked 224 ETH worth $351,000. Analysts flagged the move as a likely accumulation step, since large exchange withdrawals typically signal intent to hold rather than sell. The timing stands out against the fund outflow data, suggesting some large holders view current price levels as a buying opportunity rather than a reason to exit. Spot Ethereum ETFs recorded $2.26 million in net outflows, led by BlackRock's ETHA with $16.3944 million in outflows, though Grayscale's ETH bucked the trend with $15.1 million in inflows.
The crypto market remains in the 'Fear' zone at 31, raising concerns about a full-blown market recovery. The market is moving into a positioning phase ahead of the release of the Fed minutes and the approaching Jackson Hole symposium on August 27-29. Key events this week include crude oil inventories on Wednesday, FOMC minutes on Thursday, and preliminary PMI readings on Friday. Despite current outflows, the ETF landscape continues to expand, with reports suggesting approximately 1,470 new ETFs could launch by the end of 2026 if current launch rates continue. This would represent a significant increase from the previous record of roughly 1,050 new ETFs set in 2025, indicating continued institutional interest despite current market challenges. On August 17, Bitcoin was trading at $63,460, up 0.7% daily but down 2.3% over the week, facing resistance around $65,000-$66,000 and support at $60,000.
