Bitcoin ETF Streak Ends as Ethereum Continues to Attract Investment

The US-based Bitcoin ETF saw its nine-day net inflow streak come to an end on August 28, with a net outflow of $2.019 billion.

This reversal reduced the cumulative net inflow to approximately $55.1 billion and pushed the fund's total net assets down to around $93.9 billion.

Decrypt's ETF tracker noted that sentiment for Bitcoin turned bearish on August 28, following a strong performance earlier in the month where the asset saw a peak of over $80,000 and a daily inflow record of over $600 million on August 20.

In contrast, the Ethereum ETF continued its net inflow streak, with a net inflow of $102.1 million on August 28, extending its consecutive flow days to ten.