Bitcoin ETFs Reverse Course with $201M Outflow Amid Sliding BTC Price

Bitcoin ETFs saw a sudden reversal in net inflows on Friday, with $201.8 million in outflows, ending their nine-session streak of consecutive inflows. The funds had seen unusually strong demand over the previous nine trading days, funneling more than $3 billion into them.

The pullback occurred as the underlying cryptocurrency fell below the $78,000 level. Despite this one-day reversal, August remains in positive territory with a total of $3.3 billion in net inflows, according to data from SoSoValue.

Not all funds were affected equally, however. The ARK 21Shares Bitcoin ETF led the withdrawals with $114.9 million leaving its fund, while Bitwise's Bitcoin ETF shed $49.7 million. BlackRock's iShares Bitcoin Trust, the largest spot Bitcoin fund by assets, recorded $33.4 million in outflows.

However, Morgan Stanley's Bitcoin Trust was an exception, adding $9.3 million to its funds. Meanwhile, other crypto ETF categories showed no signs of weakening investor appetite, with spot Ether ETFs pulling in $102.2 million and XRP funds adding $26.2 million.