US-listed Bitcoin exchange-traded funds (ETFs) lost $201.9 million Friday, ending a nine-day inflow streak as Ethereum, XRP and Solana funds kept attracting cash.
The reversal came as Bitcoin fell about 3.2% to $77,696 on Aug. 28. Meanwhile, Ethereum, XRP and Solana ETFs attracted a combined $145 million in net inflows.
The split shows Friday’s weakness was concentrated in Bitcoin rather than across the US crypto ETF market. It does not establish that investors directly rotated from Bitcoin into other assets because fund-level data does not identify individual buyers.
Notably, Bitcoin ETFs still finished the five sessions through Aug. 28 with about $924.5 million of net inflows, leaving their broader weekly demand positive despite the streak ending.
Therefore, the one-day divergence does not establish a rotation away from Bitcoin. Instead, it marks a brief pause in a market that has attracted significant inflows.
Bitcoin loses a key source of breakout support
According to Farside Investors data, ARK 21Shares’ ARKB led Friday’s withdrawals with $114.9 million, followed by Bitwise’s BITB at $49.7 million.
BlackRock’s IBIT lost $33.4 million after driving much of the preceding buying run, while VanEck’s HODL shed $13.2 million. A $9.3 million inflow into Morgan Stanley’s Bitcoin Trust partly offset those redemptions.
The negative session interrupted a nine-day run that had absorbed $3.0442 billion and emerged as one of the strongest sources of support behind Bitcoin’s late-August recovery.
Ecoinometrics, a Bitcoin-focused research firm, had described the streak as the largest uninterrupted ETF buying run of the current bear market, with cumulative demand reaching roughly the scale seen around Bitcoin’s 2025 all-time high.
It added:
“Since this breakout began, we have seen nothing but inflows. More importantly, the cumulative buying has now made this the strongest streak of ETF inflows of the entire bear market.”
Friday erased only about 6.6% of that nine-session haul. But the reversal coincided with weaker price action, as Bitcoin closed near $77,696 and reported trading volume rose to roughly $39.47 billion from $34.03 billion.
The ETF complex also remains much larger than its newer crypto counterparts. Since launch, US Bitcoin ETFs have attracted about $54.6 billion of net inflows and manage roughly $97 billion in assets.
That scale makes a single $201.9 million withdrawal relatively small in cumulative terms, but further outflows would weaken one of the demand signals that accompanied Bitcoin’s recent breakout.
Ethereum, XRP and Solana extend their buying streaks
The rest of the major US crypto ETF market moved in the opposite direction to Bitcoin during the Friday trading session.
Ethereum ETFs added $102.1 million, extending their inflow streak to 10 sessions and more than $1.5 billion. The products have attracted about $12.97 billion since launch and now manage roughly $15.2 billion.
XRP ETFs recorded approximately $26 million of inflows, taking their own nine-session streak to around $150 million. Cumulative net inflows have reached roughly $1.6 billion, with assets under management near $1.4 billion.
Solana ETFs added $17.3 million, extending a nine-day run that has brought in about $200 million. The products have attracted roughly $1.2 billion since launch and manage about $1.43 billion.
The contrast leaves Bitcoin facing a more specific demand test when US markets reopen on Monday.
A quick return to Bitcoin ETF inflows would make Friday look like a pause after an unusually strong buying run.
However, continued Bitcoin redemptions, while Ethereum, XRP, and Solana funds remain positive, would point to a more consequential divergence. This would suggest that institutional crypto demand is persisting but becoming less concentrated in the market’s largest asset.
Be the first to comment