**Bitcoin and Ethereum ETFs See Significant Outflows Amid Market Downturn**

BlackRock’s Bitcoin ETF (IBIT) experienced its second-ever outflow day since its January launch, with $13.5 million in net outflows on August 29. This follows a previous outflow of $36.9 million on May 1. Overall, U.S.-based Bitcoin ETFs saw a combined outflow of $71.8 million on the same day.

- Fidelity Wise Origin Bitcoin Fund led the outflows with $31.1 million.

- Grayscale Bitcoin Trust followed with $22.7 million in outflows.

- BlackRock’s IBIT was third, despite a recent $224.1 million inflow on August 26.

Cathie Wood’s ARK 21Shares Bitcoin ETF was the only one to see net inflows, gaining $5.3 million.

Ethereum ETFs also faced minor outflows, totaling $1.7 million. Seven out of nine Ether ETFs saw zero flows, with Grayscale Ethereum Mini Trust being the exception, recording a $3.6 million inflow. However, this was overshadowed by the $5.3 million outflow from the Grayscale Ethereum Trust.

Both Bitcoin and Ethereum prices have been on a downward trend, with Bitcoin dropping 3.43% to $58,751 and Ethereum falling 5.64% to $2,517.06 over the past week, according to CoinMarketCap.