Bitcoin ETFs Shed $202 Million Amid Continued Altcoin Inflows

The cryptocurrency market saw a split in sentiment on Friday, August 28, as investors withdrew $201.9 million from spot Bitcoin ETFs while continuing to allocate capital to Ether, Solana, XRP, and Hyperliquid products.

BlackRock's IBIT recorded $33.4 million of outflows, ARK 21Shares' ARKB suffered the day's largest redemption at $114.9 million, Bitwise's BITB lost another $49.7 million, and VanEck's HODL recorded $13.2 million of withdrawals.

Morgan Stanley's MSBT was the only Bitcoin product to record a meaningful inflow, adding $9.3 million.

Ether ETFs moved in the opposite direction, recording $102.1 million of net inflows on Friday and extending their positive streak to 11 trading sessions.