Altcoin ETF Inflows Continue as Bitcoin ETFs Lose Momentum

Bitcoin ETFs have stopped attracting new investors after a nine-day inflow streak ended with outflows worth $201.8 million on August 28. The sudden shift comes as Bitcoin's price action dropped from $80K to around $78,275.24.

This was preceded by an influx of investments into the U.S. Spot Bitcoin ETF, which recorded inflows worth $3.04 billion in nine days. However, since the price has fallen, outflows have resumed.

Interestingly, this is not reflected globally, as BitWise's European BTC1 ETP saw its assets increase to $155.5 million from around $100, $130 million earlier.