A nine-day Bitcoin ETF buying streak that pulled in $3.04 billion ended on Aug. 28 with a $201.9 million outflow, even as Bitcoin fell to $77,696. Ethereum, XRP and Solana funds kept attracting cash the same day, concentrating the reversal in Bitcoin rather than the broader crypto ETF market.
US-listed Bitcoin ETFs lost $201.9 million on Aug. 28. That ended a nine-day inflow streak that had absorbed $3.04 billion. The reversal came as Bitcoin fell about 3.2% to $77,696 the same day.
Ethereum, XRP and Solana funds, however, attracted a combined $145 million in net inflows on Friday. The split shows the weakness was concentrated in Bitcoin rather than across the US crypto ETF market, though the data does not establish that investors directly rotated out of Bitcoin into other assets.
Despite Friday's reversal, Bitcoin ETFs still finished the five sessions through Aug. 28 with about $924.5 million of net inflows, leaving broader weekly demand positive.
Bitcoin loses a key source of breakout support
According to Farside Investors data, ARK 21Shares' ARKB led Friday's withdrawals with $114.9 million. Bitwise's BITB followed with $49.7 million in withdrawals. BlackRock's IBIT lost $33.4 million after driving much of the preceding buying run. VanEck's HODL shed $13.2 million, partly offset by a $9.3 million inflow into Morgan Stanley's Bitcoin Trust.
According to Ecoinometrics: "Since this breakout began, we have seen nothing but inflows." Friday's outflow erased only about 6.6% of the nine-session haul. Reported trading volume rose to roughly $39.47 billion from $34.03 billion as Bitcoin declined.
Since launch, US Bitcoin ETFs have attracted about $54.6 billion of net inflows. They now manage roughly $97 billion in assets, a scale that makes Friday's single-day withdrawal small in cumulative terms.
Ether, XRP and Solana extend their buying streaks
Ethereum ETFs added $102.1 million on Friday. That extended their own inflow streak to 10 sessions and more than $1.5 billion. XRP ETFs recorded about $26 million of inflows the same day. That took their nine-session streak to roughly $150 million. Solana ETFs added $17.3 million on Friday. That extended a nine-day run that has brought in about $200 million.
A quick return to Bitcoin ETF inflows would make Friday look like a pause after an unusually strong buying run. But continued Bitcoin redemptions alongside positive Ethereum, XRP and Solana flows would point to a more consequential divergence when US markets reopen Monday.
Source: CryptoSlate
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