U.S. spot Bitcoin (BTC) ETFs posted $201.8 million in net outflows on Aug. 28, ending a nine-session inflow streak as BTC slipped below $78,000.
Key Points:
- Bitcoin ETFs lost $201.8 million on Friday after more than $3 billion entered the funds across the previous nine trading sessions.
- ARK 21Shares led withdrawals with $114.9 million, while Morgan Stanley’s Bitcoin Trust was the only fund to record inflows.
- Altcoin ETF products continued attracting capital despite Bitcoin’s reversal.
Bitcoin ETF Outflows
SoSoValue [data] (https://ct.com/markets/bitcoin-etf-end-9-day-inflow-streak-btc-below-78k)** showed Friday’s reversal followed more than $3 billion of net inflows during the nine-session run. August remained positive at $3.3 billion with one U.S. trading session left, while total fund assets fell to $97.6 billion after exceeding $100 billion Thursday.
ARK 21Shares led Friday’s Bitcoin ETF withdrawals with $114.9 million. The Bitwise Bitcoin ETF lost $49.7 million, BlackRock’s iShares Bitcoin Trust shed $33.4 million, and Morgan Stanley’s Bitcoin Trust added $9.3 million as the only fund with inflows, according to Farside Investors.
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Eric Balchunas View
Meanwhile, Ether (ETH) ETFs added $102.2 million and XRP (XRP) funds drew $26.2 million on Friday. Those categories last recorded net outflows on Aug. 11 and Aug. 5, respectively.
Bloomberg ETF analyst Eric Balchunas said Solana (SOL) ETFs had reached $1.7 billion in cumulative flows without a sustained period of withdrawals.
Bitwise’s Solana ETF also became the first fund in the category to exceed $1 billion, a performance Balchunas called “impressive” despite a “nightmare downturn” in the first half.
The divergence was not a broad retreat from U.S. crypto ETFs. Capital continued moving into several altcoin products even as Bitcoin funds reversed, leaving the flow picture divided across major assets.
Bitcoin ETF demand had built steadily before Friday, with nine consecutive sessions bringing in more than $3 billion. Even after the $201.8 million reversal, August net flows remained positive at $3.3 billion, although total assets slipped back below the $100 billion threshold.
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