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Crypto

Bitcoin ETF Outflows Coincide with Price Drop as Ethereum and Solana Attract Investments

Guavy AI Editorial Team
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BTC ETH SOL XRP
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US-listed Bitcoin exchange-traded funds (ETFs) saw a significant outflow of $201.9 million on Friday, marking the end of a nine-day streak of inflows.

This decline in Bitcoin-focused investments coincided with a drop in the cryptocurrency's value, which fell approximately 3.2% to $77,696 by August 28.

However, funds investing in Ethereum, XRP, and Solana continued to thrive, collectively attracting around $145 million in net inflows.

The recent drop highlights a pronounced weakness in Bitcoin amidst a relatively stable US crypto ETF market.

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