Bitcoin ETF Outflows Continue as Market Shows Mixed Signals
Last week, US spot Bitcoin ETFs experienced net outflows of $61.53 million, according to data from SoSoValue. Fidelity’s FBTC led the withdrawals with $85.18 million in net outflows, bringing its total historical net inflows to $9.92 billion. Grayscale’s GBTC followed with $52.63 million in outflows. In contrast, BlackRock’s IBIT saw the largest net inflow of $86.90 million, highlighting investor preference for larger, more established funds.
The total net asset value of spot Bitcoin ETFs now stands at $76.29 billion, with an ETF net asset ratio of 6.04%. Cumulative historical net inflows have reached $51.32 billion.
Bitget Withdraws from Japan Amid Regulatory Pressure
Bitget, a Seychelles-registered cryptocurrency exchange, has announced its withdrawal from the Japanese market. The decision comes as Japan’s Financial Services Agency (FSA) requires crypto service providers to register with the agency to operate legally. Bitget has frozen new registrations for Japan-based users immediately. Existing users who are potential Japanese residents must complete Level 2 KYC verification, including proof of address, by November 1, 2026, to continue using the platform.
Coldcard Exploit: Fourth Wave Suspected
Galaxy Research’s head, Alex Thorn, has warned of a likely fourth coordinated attack wave targeting Coldcard users. The exploit, which involves a random number generator (RNG) vulnerability, has already been linked to 1,367.05 BTC stolen from 4,585 addresses across three confirmed waves. Thorn identified 218 transactions between blocks 960,778 and 960,792 that moved over 380 BTC from 462 suspected victim addresses. The transaction rate of 13.8 per block is about 45 times higher than the normal rate of 0.3, indicating a systematic sweep.
The Smarter Web Company Expands Bitcoin Treasury
The Smarter Web Company has added 11.89 BTC to its corporate treasury, bringing its total holdings to 2,712 BTC. This purchase moves the company to 28th place in the Bitcoin 100 ranking of public companies by bitcoin holdings. Earlier in July, the company repaid its $11.7 million Smarter Convert instrument nearly two weeks early by selling 177.89 BTC at an average price of $65,762 per coin.
CLARITY Act Faces Senate Deadline
The Digital Asset Market Clarity Act, also known as the CLARITY Act, was not on the Senate’s published schedule for Monday, Aug. 3, leaving little time for floor action before the summer break. The Senate is scheduled to begin its state work period on Aug. 10, which lasts until Sept. 11. The absence of the bill from the schedule does not formally block it, but it leaves lawmakers without a confirmed vehicle to advance the legislation before the break.
Frequently Asked Questions
How much did Bitcoin ETFs lose last week?
US spot Bitcoin ETFs recorded $61.53 million in weekly net outflows last week, with Fidelity’s FBTC and Grayscale’s GBTC leading the withdrawals, while BlackRock’s IBIT saw the largest inflows.
Why is Bitget leaving Japan?
Bitget is exiting Japan because the country requires crypto service providers to register with the Financial Services Agency. The exchange paused new registrations and requested existing users to complete additional KYC checks.
What happened in the Coldcard exploit?
A suspected RNG vulnerability has been linked to multiple coordinated attack waves affecting Coldcard users. The latest suspected wave moved over 380 BTC from hundreds of potentially compromised addresses.
How much Bitcoin does Smarter Web Company hold?
The company added 11.89 BTC, raising its total treasury to 2,712 BTC, placing it 28th among publicly listed companies by bitcoin holdings.
Why is the CLARITY Act deadline important?
The bill was not included in the Senate’s schedule, limiting time for action before the summer recess. Further delays could postpone consideration until after September.