US-listed spot bitcoin exchange-traded funds (ETFs) ended a nine-day inflow streak as bitcoin fell below $78,000, while several altcoin ETF categories continued to see inflows.
Bitcoin ETFs recorded $201.8 million in net outflows on Friday, ending a nine-straight trading session of inflows. According to In SoSoValue data.
Inverses followed net flows of more than $3 billion over nine sessions, while August flows were positive at $3.3 billion with one US trading session remaining in the month. Total net worth fell to $97.6 billion after hitting a peak of $100 billion on Thursday.
From August 14th on the US Spot Bitcoin ETF, daily flows in USD. Source: SoSoValue
The Bitcoin ETF reversal contrasts with continued inflows into Ether and XRP funds, while the Solana ETF hits new asset milestones.
ARK 21Shares Bitcoin ETF Leads Outflow
ARK 21Shares Bitcoin ETF (ARKB) led Friday’s withdrawals with net outflows of $114.9 million, followed by Bitwise Bitcoin ETF (BITB) at $49.7 million. According to Farside Investor Information.
BlackRock’s iShares Bitcoin Trust ETF (IBIT), the largest US spot Bitcoin ETF by assets, recorded outflows of $33.4 million.
US spot bitcoin ETF flows on Friday. Source: Farside Investors
Morgan Stanley’s Bitcoin Trust (MSBT) was the only fund to record inflows on Friday, adding $9.3 million.
Ether, XRP ETFs defy Bitcoin outflows
Ether and XRP ETFs continued to see inflows on Friday, despite the opposite of Bitcoin funds. to add $102.2 million and $26.2 million respectively, According to In SoSoValue data. The funds last recorded net outflows on August 11 and August 5 respectively
Solana ETFs also maintained positive momentum. Bloomberg ETF analyst Eric Balchunas said The category attracted $1.7 billion in incremental inflows on Friday without steady outflows.
Related: Solana validators approved the proposal to accelerate SOL disinflation
Bitwise’s Solana has become the first fund in the ETF category to cross the $1 billion mark, according to analysts.
Balchunas called the performance “impressive” despite what he described as a “nightmare slump” in the first half of the year.
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