Bitcoin ETFs had a rough August 28. After nine consecutive days of inflows that stacked up more than $3 billion, U.S. spot Bitcoin funds recorded a net outflow of approximately $201.9 million in a single session, equivalent to about 2,689 BTC leaving the product wrapper. It was the first daily outflow since mid-August, and it landed on a day when Bitcoin’s price was trading in the $77,696 to $78,000 range.
Ethereum ETFs, meanwhile, did the opposite. Spot Ether funds pulled in roughly $102.1 million on the same day, extending their own consecutive inflow streak to ten days and pushing cumulative net inflows close to $12.9 billion.
Where the Bitcoin money went
The outflow was not evenly distributed. ARK 21Shares took the biggest hit, shedding approximately $114.9 million in a single session. Bitwise followed at roughly $49.7 million in outflows, and BlackRock’s Bitcoin fund saw about $33.4 million exit.
To put the overall Bitcoin ETF picture in perspective: cumulative net inflows since launch still sit at approximately $55.1 billion, with total net assets in the neighborhood of $97 billion to $100 billion.
