Bitcoin ETFs end 9

Bitcoin ETFs end 9-day inflow streak as BTC dips below $78K

US-listed spot Bitcoin exchange-traded funds (ETFs) ended a nine-day inflow streak as Bitcoin fell below $78,000, while several altcoin ETF categories continued to see inflows.

Bitcoin ETFs recorded $201.8 million in net outflows on Friday, ending nine consecutive trading sessions of inflows

The reversal followed more than $3 billion of net inflows during the nine-session run, while August flows remained positive at $3.3 billion with one US trading session left in the month. Total net assets fell to $97.6 billion after topping $100 billion on Thursday.

Daily flows into US spot Bitcoin ETFs since Aug. 14, in USD

The Bitcoin ETF reversal contrasts with continued inflows into Ether and $XRP funds, while Solana ETFs have reached new asset milestones.

ARK 21Shares leads Bitcoin ETF outflows

The ARK 21Shares Bitcoin ETF (ARKB) led Friday’s withdrawals with $114.9 million in net outflows, followed by the Bitwise Bitcoin ETF (BITB) with $49.7 million

BlackRock’s iShares Bitcoin Trust ETF (IBIT), the largest US spot Bitcoin ETF by assets, recorded $33.4 million in outflows.

US spot Bitcoin ETF flows on Friday

Morgan Stanley’s Bitcoin Trust (MSBT) was the only fund to record inflows Friday, adding $9.3 million.

Ether, $XRP ETFs buck Bitcoin outflows

Ether and $XRP ETFs continued to see inflows Friday despite the reversal in Bitcoin funds, adding $102.2 million and $26.2 million, respectively The funds last recorded net outflows on Aug. 11 and Aug. 5, respectively

Solana ETFs have also maintained positive momentum. Bloomberg ETF analyst Eric Balchunas said Friday that the category had attracted $1.7 billion in cumulative flows without a sustained stretch of outflows.

Bitwise’s Solana ETF also became the first fund in the category to cross the $1 billion mark, according to the analyst.

Balchunas called the performance “impressive” despite what he described as a “nightmare downturn” in the first half of the year.

Source: cryptonews.net