Bitcoin ETF Outflows Snap Nine-Day Inflow Streak
- U.S. spot Bitcoin ETFs recorded $201.9 million in net outflows on Aug. 28.
- The reversal ended a nine-day inflow streak, reducing cumulative net inflows to about $55.1 billion.
- Ethereum ETFs continued their momentum with $102.1 million in inflows, extending a ten-day streak.
- During the previous eight-day streak, Bitcoin ETFs saw $2.8 billion in inflows as Bitcoin tested $80,000.
- Ethereum ETFs have accumulated approximately $12.9 billion in cumulative net inflows.
The recent outflows from U.S. spot Bitcoin ETFs mark a significant shift after a strong period of accumulation, contrasting with the continued strength of Ethereum ETFs which have maintained steady inflows over the same period.
Despite the single-day outflow for Bitcoin ETFs being modest relative to their overall asset base, it highlights the dynamic nature of cryptocurrency investments and market sentiment fluctuations.Source
