US-listed Bitcoin ETFs ended their nine-day streak of inflows as Bitcoin declined below $78,000. Several altcoin categories saw continued inflows.
Bitcoin ETFs experienced a $201.8 million net outflow on Friday. This marks the end of nine trading sessions in which there were inflows. according SoSoValue is a database of data.
Inflows in August remained positive, at $3.3billion with only one US session remaining in the month. After topping $100 billion last Thursday, total net assets have fallen to $97.6billion.
Flows into US Bitcoin Spot ETFs, in USD. Source: SoSoValue
Bitcoin ETF reversal in stark contrast with the continued flow of funds into Ether (XRP) and XRP, while Solana ETFs reached asset milestones.
ARK 21Shares leads Bitcoin ETF outflows
Bitwise Bitcoin ETFs (BITB), with $49.7 millions, and ARK 21Shares Bitcoin ETFs (ARKB) were the two leading ETFs in Friday’s net withdrawals. according Farside Investors Data
BlackRock’s iShares Bitcoin Trust ETF(IBIT), which is the biggest US Bitcoin ETF based upon assets, experienced outflows totaling $33.4 millions.
US Bitcoin ETF flow on Friday. Source: Farside Investors
Morgan Stanley Bitcoin Trust, a fund managed by Morgan Stanley (MSBT), was the only one to see inflows of $9.3 millions on Friday.
Bitcoin’s outflows are slowed by Ether and XRP ETFs
Inflows into Ether andXRP ETFs were still seen on Friday in spite of the decline in Bitcoin funds. adding As of today, the two numbers are 102.2 and 26.2 millions dollars. according SoSoValue is a database of data. Last net outflows were recorded on August 11th and 5th, respectively.
Solana ETFs are also showing positive signs. Bloomberg ETF Analyst Eric Balchunas said The category attracted cumulatively $1.7 billion without any sustained outflows.
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The analyst also said that Bitwise’s Solana ETF was the first ETF in this category to reach $1 billion.
Balchunas is the name of the Balchunas performance. “impressive” The notwithstanding what he called a “nightmare downturn” The first half of this year is the most important time to buy.
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Source: cointelegraph.com
