Bitcoin spot ETFs ended nine days of net inflows, while Ethereum ETFs continued their inflow momentum

On August 28, the U.S. spot Bitcoin ETF recorded a net outflow of $201.9 million, ending a nine-day streak of net inflows since mid-August. According to SoSoValue data, this reversal reduced the cumulative net inflow to approximately $55.1 billion, with total net assets of about $93.9 billion. Decrypt's ETF flow tracker turned the Bitcoin sentiment reading to "bearish" on that day.

The previous strong performance was particularly remarkable: the Bitcoin ETF had accumulated inflows of $2.8 billion during an eight-day rally, during which Bitcoin briefly tested the $80,000 mark and recorded the largest single-day inflow since May, with a peak single-day inflow exceeding $600 million on August 20. In contrast, the Ethereum ETF showed no signs of weakness, with a net inflow of $102.1 million on August 28, extending its streak of inflows to ten days, with a cumulative net inflow of approximately $12.9 billion and total net assets of about $13.8 billion.

As the flow of funds diverged, Bitcoin fell back due to hawkish remarks from Federal Reserve Chairman Kevin Warsh at Jackson Hole, after a rally that had pushed prices close to $80,000. Over the weekend, Bitcoin rebounded to around $79,000. Analysts pointed out that the single-day outflow relative to the fund's cumulative size remains moderate, and the interruption of the rally may not necessarily indicate a widespread reversal in institutional demand.