U.S. spot Bitcoin ETF turned net outflow on August 28, ending its continuous capital inflow trend since mid-August. Meanwhile, Ethereum spot ETF continued to record net capital inflows, indicating a divergence in short-term capital directions between the two products.
Bitcoin ETF ends a nine-consecutive increase
SoSoValue Data shows that US spot Bitcoin ETF had a net outflow of $201.9 million on the day, with the cumulative net inflow dropping to about $55.1 billion, and the total net assets at around $93.9 billion. This is also the first pullback after nine consecutive trading days of net inflow for such products.
The previous round of inflows was quite strong. Bitcoin ETF accumulated a total of $2.8 billion in net inflows over an 8-day period, during which BTC once tested the $80,000 mark. On several days during this period, the daily net inflows exceeded $300 million, and on August 20th, they even surpassed $600 million.
Ethereum ETF has been raking in funds for 10 consecutive days
In contrast, US spot Ethereum ETF recorded a net inflow of $102.1 million on August 28, achieving a net capital inflow for the 10th consecutive trading day. Its cumulative net inflow has risen to approximately $12.9 billion, with a total net asset value of around $13.8 billion.
In recent trading days, the daily inflow of Ethereum ETF has approached, and at one point, it was even comparable to that of Bitcoin ETF. Considering that the asset management scale of Ethereum ETF is significantly smaller, this indicates an increasing interest in Ethereum ETH products.
After the callback, there was a divergence in funds.
The report mentions that this divergence occurred after the price of Bitcoin fell. Following a hawkish speech by Federal Reserve Chairman Kevin Warsh at Jackson Hole, market risk appetite cooled down, and Bitcoin dropped from near $80,000, before rebounding to around $79,000 over the weekend.
In terms of overall scale, the one-day outflow of Bitcoin ETF is still lower than the capital volume accumulated since its listing. The current data seems to indicate a short-term change in momentum, rather than a significant reversal in institutional demand.
