Bitcoin ETFs see $202M outflow after nine days of inflows

The streak of nine consecutive days of inflows into US spot Bitcoin ETFs was broken on 28 August. According to data from SoSoValue, a net $202 million flowed out of these funds, while the Bitcoin price simultaneously falls to $77K. Spot Ethereum ETFs show the opposite picture: they recorded $102 million in inflows, extending their own streak to ten consecutive days.

In short:

• Spot Bitcoin ETFs record $202 million in net outflows on 28 August, after nine days of uninterrupted inflows.
• Spot Ethereum ETFs extend their inflow streak to ten days with $102 million.
• Bitcoin is at $77K, down 2.5% in the past 24 hours.

End of the inflow streak for Bitcoin ETFs

The nine-day streak of net inflows into US spot Bitcoin ETFs came to an end on 28 August (US time). According to SoSoValue, the total net assets of these ETFs amount to $97.59 billion. The Bitcoin price stood at $77.580 at the time of the measurement.

The outflow coincides with a broader price decline. Bitcoin is losing 2.5% in the past 24 hours and is trading around $77K. Earlier, many holders were already in the red despite an earlier recovery attempt towards $79.000.

Ethereum ETFs book tenth consecutive day of inflows

While Bitcoin ETFs show outflows, the Ethereum side is attracting capital. Spot Ethereum ETFs recorded $102 million in net inflows on the same day, bringing the inflow streak to ten consecutive trading days.

Whether this divergence continues depends partly on how the broader market develops. According to analysts, Bitcoin has recently been behaving increasingly like gold rather than like a technology investment, which could influence the reaction to market movements.