Bitcoin ETFs See Rare Outflow as Ethereum Funds Extend Winning Streak

On August 28, Bitcoin ETFs experienced a significant downturn after nine consecutive days of inflows that totaled over $3 billion. U.S. spot Bitcoin funds recorded a net outflow of approximately $201.9 million in a single session, equivalent to about 2,689 BTC leaving the product wrapper. This was the first daily outflow since mid-August, and it occurred on a day when Bitcoin's price was trading in the $77,696 to $78,000 range.

The largest contributor to this outflow was ARK 21Shares, which shed approximately $114.9 million in a single session. Bitwise followed at roughly $49.7 million in outflows, and BlackRock's Bitcoin fund saw about $33.4 million exit.

Despite this setback, cumulative net inflows into Bitcoin ETFs since launch still sit at approximately $55.1 billion, with total net assets in the neighborhood of $97 billion to $100 billion.

Ethereum ETFs, on the other hand, continued their winning streak, extending their consecutive inflow run to ten days and attracting roughly $102.1 million on August 28. This has pushed cumulative net inflows into Ethereum funds close to $12.9 billion.