On August 28, US spot bitcoin ETFs recorded $201.9 million in net outflows, snapping a nine-day inflow streak. SoSoValue data shows cumulative net inflows fell to about $55.1 billion, while total net assets stood at $93.9 billion. Decrypt's flow tracker turned bearish on bitcoin that day. The reversal followed a strong run in which bitcoin ETFs took in $2.8 billion over eight consecutive days, including a single-day peak above $600 million on August 20. Ethereum ETFs added $102.1 million the same day, extending their streak to ten days, for cumulative inflows near $12.9 billion and net assets of $13.8 billion. The shift came as bitcoin pulled back after Fed Chair Kevin Warsh's hawkish Jackson Hole comments; the price had neared $80,000 and later recovered to about $79,000 over the weekend. Analysts said the outflow is modest relative to the funds' overall size and may not signal a broad reversal in institutional demand.
US spot bitcoin ETFs recorded $201.9 million in net outflows on August 28, snapping a nine-day streak of net inflows that stretched back to mid-August. According to SoSoValue data, the reversal trimmed cumulative net inflows to roughly $55.1 billion, with total net assets standing near $93.9 billion. Decrypt's ETF flow tracker shifted its bitcoin sentiment reading to bearish for the day.
The outflows came after an unusually strong stretch. Over the prior eight consecutive days of inflows, bitcoin ETFs accumulated $2.8 billion. During that period, bitcoin briefly tested the $80,000 level, and the funds posted their largest single-day inflow since May, peaking at over $600 million on August 20.
Ethereum ETFs, by contrast, stayed resilient. They pulled in $102.1 million in net inflows on August 28, extending their own streak to ten days. Cumulative net inflows for ether funds now stand around $12.9 billion, with total net assets of roughly $13.8 billion.
The divergence in fund flows came as bitcoin retreated after hawkish comments from Federal Reserve Chair Kevin Warsh at Jackson Hole. The earlier rally had pushed prices close to $80,000, and bitcoin recovered to about $79,000 over the weekend. Analysts noted that the one-day outflow remains modest relative to the funds' cumulative size, and the end of the winning streak does not necessarily signal a broad reversal in institutional demand.
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