Bitcoin ETFs lose $201.9 million as Ethereum, XRP and Solana funds gain
Bitcoin funds end a nine-day inflow run
US-listed Bitcoin exchange-traded funds recorded $201.9 million in net outflows on Aug. 28, according to CryptoSlate. An ETF is a fund traded on a stock exchange that gives investors exposure to an asset.
The withdrawal ended nine straight sessions of Bitcoin ETF inflows totaling $3.0442 billion. Ethereum, XRP and Solana ETFs moved in the opposite direction, attracting about $145 million combined.
Key figures from the session
- Bitcoin ETFs lost $201.9 million after nine days of net inflows.
- Ethereum ETFs gained $102.1 million.
- XRP ETFs added approximately $26 million.
- Solana ETFs attracted $17.3 million.
- Bitcoin ETFs still finished the five sessions through Aug. 28 with about $924.5 million in net inflows.
ARK, Bitwise and BlackRock lead Bitcoin withdrawals
CryptoSlate, citing Farside Investors data, reported that ARK 21Shares’ ARKB had $114.9 million in outflows. Bitwise’s BITB lost $49.7 million, BlackRock’s IBIT lost $33.4 million and VanEck’s HODL lost $13.2 million.
A $9.3 million inflow into Morgan Stanley's Bitcoin Trust partly offset those withdrawals. The daily outflow represented about 6.6% of the money collected during the preceding nine-session run.
Bitcoin fell about 3.2% to $77,696 on Aug. 28. Reported trading volume increased to roughly $39.47 billion from $34.03 billion.
Other crypto funds continue attracting money
Ethereum ETFs extended their inflow streak to 10 sessions, bringing in more than $1.5 billion over that period. CryptoSlate reported that the funds have received about $12.97 billion since launch and manage roughly $15.2 billion.
XRP ETFs extended a nine-session run to around $150 million. Their cumulative net inflows reached roughly $1.6 billion, while assets under management stood near $1.4 billion.
Solana ETFs also reached nine consecutive sessions of inflows. The funds attracted about $200 million during that run, roughly $1.2 billion since launch, and manage about $1.43 billion.
One session does not confirm an investor shift
The data shows that the Aug. 28 weakness was concentrated in Bitcoin ETFs rather than the wider US crypto ETF market. However, it does not prove that investors moved money directly from Bitcoin into Ethereum, XRP or Solana funds. Fund-level figures do not identify individual buyers.
Bitcoin ETFs also remain much larger than the newer crypto funds. CryptoSlate reported cumulative net inflows of about $54.6 billion and approximately $97 billion in assets under management.
Monday’s flows will provide the next signal
The next US trading session will show whether the Bitcoin ETF withdrawal was a short pause or the start of a longer divergence. Continued Bitcoin outflows alongside gains for other crypto ETFs would show that demand was becoming less concentrated in Bitcoin, according to CryptoSlate’s analysis.
