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Nine-day streak ends for Bitcoin ETFs

U.S.-listed spot Bitcoin ETFs recorded $201.8 million in net outflows on Friday as Bitcoin slipped below $78,000. That brought to an end a nine-session streak of inflows that had added more than $3 billion in net new money to the funds.

SoSoValue data showed that the picture for August remained positive overall. Even with one final U.S. trading day left before the month closed, monthly net inflows stood at $3.3 billion, while total net assets slipped to $97.6 billion after briefly topping the $100 billion mark on Thursday.

Which funds saw the biggest outflows?

Data from Farside Investors showed that Friday's reversal was concentrated in several major funds. The largest net outflow was recorded in ARK 21Shares Bitcoin ETF (ARKB), which saw $114.9 million leave the fund. It was followed by Bitwise Bitcoin ETF (BITB) with $49.7 million and BlackRock iShares Bitcoin Trust (IBIT), the largest spot Bitcoin fund by assets, with $33.4 million.

  • ARKB: $114.9 million net outflow
  • BITB: $49.7 million net outflow
  • IBIT: $33.4 million net outflow
  • MSBT: $9.3 million net inflow

The only product to post inflows on Friday was Morgan Stanley Bitcoin Trust (MSBT). The fund ended the session with $9.3 million in net inflows.

Ether and XRP funds kept attracting money

Despite the retreat in Bitcoin funds, investor demand continued in some U.S.-listed altcoin ETF categories. According to SoSoValue, Ether ETFs brought in $102.2 million in net inflows on Friday, while XRP ETFs added $26.2 million.

The data show that Ether funds last posted net outflows on Aug. 11, while XRP funds last saw outflows on Aug. 5. The figures suggest that capital flows in the crypto ETF market are not tied to Bitcoin alone, with money continuing to rotate into other products.

Solana ETFs reach new milestones

According to data shared by Bloomberg ETF analyst Eric Balchunas, Solana ETFs have attracted a cumulative $1.7 billion in total inflows so far. He said the category has maintained positive momentum without going through a prolonged period of outflows.

Bitwise's Solana ETF also became the first fund in its category to cross the $1 billion mark. Even though Bitcoin ETFs saw daily outflows, the flows into Ether, XRP and Solana products point to a more selective investor approach in the crypto fund market.

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