Key facts
- U.S. spot Bitcoin ETFs saw $201.9 million in net outflows on August 28.
- This marked the end of a nine-day inflow streak for Bitcoin ETFs.
- Ethereum ETFs attracted $102.1 million on the same day.
- Ethereum ETFs extended their own inflow streak to 10 consecutive days.
- Cumulative net inflows for Bitcoin ETFs were trimmed to approximately $55.1 billion.
- Cumulative net inflows for Ethereum ETFs reached approximately $12.9 billion.
U.S. spot Bitcoin exchange-traded funds (ETFs) experienced net outflows totaling $201.9 million on August 28, ending a nine-day streak of positive inflows. This reversal reduced the cumulative net inflows for these funds to approximately $55.1 billion, with total net assets now around $93.9 billion.
In contrast, Ethereum ETFs demonstrated continued strength, attracting $102.1 million on the same day. This extended their own inflow streak to 10 consecutive days, bringing their cumulative net inflows to about $12.9 billion against $13.8 billion in total net assets.
The divergence in flows occurred as Bitcoin's price dipped following hawkish remarks from Federal Reserve Chair Kevin Warsh at the Jackson Hole symposium. These comments tempered a rally that had pushed Bitcoin towards the $80,000 mark over the weekend. Despite the single-day outflow, the overall institutional appetite for both Bitcoin and Ethereum ETFs remains robust.
Spot Bitcoin ETFs, which debuted in January 2024, have been among the fastest-growing ETFs in history, offering investors indirect exposure to Bitcoin. Daily flows are closely monitored as an indicator of broader market sentiment, often correlating with price swings and macroeconomic factors.