US Spot Bitcoin ETFs See $201.8 Million Outflow as Ether Funds Extend Inflow Streak to 10 Days

U.S. spot Bitcoin exchange-traded funds snapped their inflow streak on Aug. 28, while spot Ether ETFs continued to attract fresh money. The Ether funds logged more than $100 million in net inflows even as the cryptocurrency fell more than 3%.

Data from SoSoValue showed U.S. spot Ether ETFs recorded combined net inflows of $102.18 million on Aug. 28. The buying streak, which began on Aug. 17, stretched to 10 straight trading days.

BlackRock's ETHA led the gains with $83.79 million of net inflows. BlackRock's ETHB added another $42.64 million. Fidelity's FETH, meanwhile, posted net outflows of $24.26 million. Grayscale, Bitwise and VanEck products were unchanged.

Over the past 10 trading days, U.S. spot Ether ETFs have attracted total net inflows of $1.52158 billion. The biggest daily intake during that period came on Aug. 27, when the funds pulled in $234.51 million. Cumulative net inflows into U.S. spot Ether ETFs rose to $12.97 billion.

U.S. spot Bitcoin ETFs recorded net outflows of $201.81 million on the same day, ending a nine-trading-day inflow streak that also began on Aug. 17.

Ether fell despite continued ETF buying. The token rose to as high as $2,566 on Aug. 28 before retreating to $2,405. Even so, it remained more than 20% above the roughly $1,900 level where it traded on Aug. 17. Continued inflows into ETFs suggest institutional demand is holding up even during the price correction.