Bitcoin ETF Inflow Streak Ends as BTC Dips Below $78K
US-listed spot Bitcoin exchange-traded funds (ETFs) saw their nine-day inflow streak end as Bitcoin dipped below $78,000. The reversal in fortunes came as Bitcoin ETFs recorded $201.8 million in net outflows on Friday, according to SoSoValue data.
The influx of capital into the sector had reached over $3 billion during the nine-session run, but 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 topping $100 billion on Thursday.
However, not all Bitcoin ETFs saw outflows. Morgan Stanley's Bitcoin Trust (MSBT) recorded inflows of $9.3 million, bucking the trend. BlackRock's iShares Bitcoin Trust ETF (IBIT), the largest US spot Bitcoin ETF by assets, recorded $33.4 million in outflows.
The ARK 21Shares Bitcoin ETF (ARKB) led Friday’s withdrawals with $114.9 million in net outflows, followed closely by Bitwise Bitcoin ETF (BITB) with $49.7 million in outflows, according to Farside Investors data.