Bitcoin ETFs Shed $201.8M After BTC Falls Below $78K

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.

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.