Bitcoin ETFs Snap Nine-Day Inflow Streak as Ethereum Funds Extend Their Run

Spot Bitcoin exchange-traded funds (ETFs) halted a nine-day influx streak on Friday, while Ethereum funds continued to accumulate fresh capital. U.S. spot Bitcoin ETFs posted $201.9 million in net outflows on August 28, according to SoSoValue data, ending a run of consecutive inflows that began in mid-August. The slowdown trimmed the funds' cumulative net inflows to approximately $55.1 billion, with the assets now valued at around $93.9 billion.

Crypto news outlet Decrypt adjusted its Bitcoin sentiment rating to bearish on the day. An ETF is an investment vehicle that holds an underlying asset and trades on a traditional stock exchange, providing investors with indirect exposure to the asset's price. Spot Bitcoin ETFs, which hold actual Bitcoin, have seen tremendous growth since launching in January 2024 after years of regulatory hurdles.

These funds have experienced a remarkable run, with daily flows shifting between significant accumulation and sharp withdrawals based on price movements and macroeconomic conditions. The recent pullback marks the end of a strong run for the funds, with Bitcoin ETFs drawing $2.8 billion over an eight-day stretch as Bitcoin approached $80,000, and Bitcoin ETFs setting their biggest single-day inflow since May.

Ethereum ETFs, on the other hand, continued their 10-day influx streak, adding $102.1 million on August 28 and raising their cumulative net inflows to about $12.9 billion against $13.8 billion in total net assets. The diverging flows came as Bitcoin prices fell following Federal Reserve Chair Kevin Warsh's hawkish remarks at the Jackson Hole conference, which dampened the rally that had pushed the token towards $80,000.

Bitcoin later rebounded to around $79,000 over the weekend. The single-day outflow is relatively modest compared to the tens of billions amassed since the funds' launch, and the interruption of a streak does not necessarily indicate a broader shift in institutional appetite, which remains strong for both assets.