Bitcoin corporate wallets add 630 BTC in new purchases the previous day... ETFs see net outflows of ₩450 billion

Movements among Bitcoin (BTC) investment entities are diverging. Corporate wallets are engaging in buying, while exchange-traded funds (ETFs) are showing a selling trend.

On the 5th (local time), the virtual asset (cryptocurrency) media outlet Cointelegraph, citing data from digital asset investment firm Capriole Investments, reported that "corporate holders of Bitcoin purchased an additional 630 BTC (about $72 million) the previous day." This marks the largest daily net purchase so far in August, indicating that corporations are continuing to accumulate BTC.

In contrast, on the same day, a total of $323.5 million (about ₩450 billion) flowed out from U.S. spot Bitcoin ETFs. Of this, $292.2 million was withdrawn from BlackRock's IBIT alone, recording one of the largest daily net outflows this year.

Capriole explained, "The net buying of Bitcoin by corporate wallets has continued since last month," and added, "On the 21st of last month alone, there was a massive purchase of 26,700 BTC (about $3 billion)."

Charles Edwards, founder of Capriole, stated on X (formerly Twitter), "On most days in previous cycles when corporate wallets sold more than 1,500 BTC in a day, those days usually coincided with short-term local bottoms," and added, "This could be a (potential) 'buy signal.'"

Meanwhile, some analysts are cautioning against excessive pessimism despite recent market conditions such as ETF outflows. Eric Balchunas, a Bloomberg ETF analyst, noted, "Recent bottom-fishing has been an effective strategy for decades."