U.S. spot ether ETFs pulled in $102 million on August 28, stretching their buying run to ten straight days even as spot bitcoin ETFs saw a $202 million net outflow that snapped a nine-day streak. Bitcoin traded near $77,500 as traders watched whether the level holds heading into September.
Bitcoin ETFs Break Their Nine-Day Run
Sosovalue data showed U.S. spot bitcoin ETFs had pulled in fresh money every day since August 17, a run that swelled to roughly $3.04 billion before breaking. That streak ended on August 28 with $202 million in net outflows leaving the funds.
The nine-day run had already carried combined bitcoin ETF assets past a milestone, with the group crossing $100 billion in net assets on August 27. Blackrock's iShares Bitcoin Trust added $277.6 million that day, even as Fidelity's FBTC shed $83.6 million and Grayscale's GBTC gave up $27.2 million.
Bitcoin ETFs have swung sharply in both directions this year. Back in May, the same group of funds logged a record nine-day outflow streak that drained roughly $2.8 billion while bitcoin slid from around $80,000 to $73,000.
Ether Funds Keep Buying
Spot ether ETFs told a different story. Rather than following bitcoin, the funds added $102 million, extending their own buying run to ten consecutive days. Earlier in August, the category pulled in $2.6 billion in its strongest inflow week since October, with Blackrock's ETHA tripling the sector's usual trading volume.
Ether's price has broadly mirrored bitcoin's even though the two funds' flows diverged for the day.
Where Bitcoin's Price Sits Now
The outflow landed at an interesting moment for bitcoin's price. The asset opened August 28 at $80,261.86 before slipping to its current level of around $77,500, up just 1% over the past week. That single day of ETF selling looks more like profit-taking than panic, especially with roughly $6.4 billion in Deribit options expiring the same Friday.
One red day doesn't undo a $3 billion run. Ether's funds, for their part, head into the new week still riding a ten-day streak.
Source: Bitcoin News
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