Bitcoin ETFs End Streak of Inflows as Prices Dip Below $78K
US-listed spot Bitcoin exchange-traded funds (ETFs) saw a reversal of fortune on Friday, ending a nine-day streak of inflows. According to SoSoValue data, $201.8 million in net outflows marked the end of the streak, following more than $3 billion in net inflows over the previous nine sessions.
The decline in Bitcoin prices below $78,000 contributed to the reversal, with total net assets falling to $97.6 billion after topping $100 billion on Thursday. The ARK 21Shares Bitcoin ETF (ARKB) led the outflows with $114.9 million, followed by Bitwise's Bitcoin ETF (BITB) at $49.7 million.
However, other digital asset categories continued to see inflows. Ether and XRP ETFs added $102.2 million and $26.2 million respectively, while Solana ETFs reached new asset milestones. Bloomberg ETF analyst Eric Balchunas described the performance as 'impressive' despite the first half of the year being a 'nightmare downturn'.
Morgan Stanley's Bitcoin Trust (MSBT) was an exception among Bitcoin funds, recording $9.3 million in inflows on Friday.