Bitcoin ETF Inflow Streak Ends Amid Bitcoin Price Dip
The US-listed Bitcoin exchange-traded funds (ETFs) ended their nine-day inflow streak as Bitcoin fell below $78,000. The reversal occurred on Friday when Bitcoin ETFs recorded $201.8 million in net outflows, according to SoSoValue data.
This came after a nearly $3 billion influx during the nine-session run. August flows remained positive at $3.3 billion with one US trading session left in the month. Total net assets fell to $97.6 billion after reaching $100 billion on Thursday.
The ARK 21Shares Bitcoin ETF led the withdrawals with $114.9 million in net outflows, followed by the Bitwise Bitcoin ETF with $49.7 million. BlackRock's iShares Bitcoin Trust ETF recorded $33.4 million in outflows, while Morgan Stanley's Bitcoin Trust was the only fund to record inflows on Friday, adding $9.3 million.
Despite the reversal in Bitcoin funds, Ether and XRP ETFs continued to see inflows, adding $102.2 million and $26.2 million respectively. The Solana ETF category has attracted $1.7 billion in cumulative flows without a sustained stretch of outflows, according to Bloomberg ETF analyst Eric Balchunas.