Bitcoin ETF Inflows Snap 9-Day Streak as Ethereum ETFs Extend Run to 10 Days

U.S. spot Bitcoin ETFs recorded their first net outflow since mid-August on Aug. 28, while U.S. spot Ethereum ETFs added another day of inflows, according to SoSoValue and Decrypt's ETF trackers. SoSoValue data shows spot Bitcoin ETFs saw $201.9 million in net outflows on Aug. 28, ending a nine-day inflow streak that began in mid-August. The pullback lowered cumulative net inflows to about $55.1 billion, with total net assets at roughly $93.9 billion. Decrypt's ETF flow tracker shifted Bitcoin's daily read to "bearish." Spot Ethereum ETFs moved the other way, drawing $102.1 million on Aug. 28 and extending a 10-day inflow streak. Cumulative net inflows rose to about $12.9 billion, against total net assets of around $13.8 billion. Decrypt continued to label Ethereum flows "bullish." The split stands out as Ethereum products are attracting near-comparable daily inflows to Bitcoin despite a much smaller asset base. Spot ETFs hold the underlying crypto and trade on traditional exchanges, offering investors exposure without directly custodying coins. U.S. spot Bitcoin ETFs launched in January 2024 after years of regulatory resistance and quickly became among the fastest-growing ETFs, making daily flow data a widely watched gauge of institutional and retail sentiment. The Aug. 28 outflow followed a strong accumulation stretch: over the prior eight days, Bitcoin ETFs took in about $2.8 billion as Bitcoin tested the $80,000 level, with daily inflows often above $300 million and a peak above $600 million on Aug. 20. The one-day reversal came as markets digested hawkish comments at the Jackson Hole forum by Kevin Warsh, briefly cooling Bitcoin's rally before the token rebounded toward about $79,000 over the weekend. Traders are likely to focus on whether the divergence between Bitcoin and Ethereum ETF flows persists and how both react to macro headlines and price moves. While a single-day outflow of $201.9 million is modest relative to the tens of billions accumulated since launch and may not indicate a sustained reversal, the flow split remains a key barometer for broader crypto market sentiment.