🌎 U.S. Bitcoin ETFs See $127M Outflow as ARK 21Shares Leads Decline

Spot Bitcoin exchange-traded funds (ETFs) in the United States experienced net outflows of $127.05 million on August 28, with ARK 21Shares’ ARKB leading the decline.

According to data from SoSoValue, the 12 U.S. spot Bitcoin ETFs saw a break in an eight-day streak of positive inflows, which had accumulated $756 million. On August 28, these funds recorded net outflows of $127.05 million. ARK 21Shares’ ARKB was the primary contributor, with $101.97 million in outflows, marking its largest outflow to date. Grayscale’s GBTC reported net outflows of $18.32 million, while Bitwise’s BITB saw $6.76 million in outflows. Valkyrie’s BRRR was not updated at the time of writing.

Meanwhile, the remaining eight funds, including BlackRock’s IBIT, saw no flows on the day. Excluding BRRR, the total trade volume for U.S. spot Bitcoin funds reached $1.2 billion. Since January, these funds have collectively seen net inflows totaling $17.95 billion.

At the same time, the broader market is seeing developments that could impact investor behavior. Nasdaq has filed with the U.S. Securities and Exchange Commission to list Bitcoin Index Options, which will track Bitcoin’s price via the CME CF Bitcoin Real-Time Index. This move, pending regulatory approval, aims to improve market transparency and offer investors better tools to manage and hedge their crypto positions.

Additionally, CME Group is planning to introduce smaller-sized Bitcoin futures contracts, which could appeal to retail investors.

At the time of writing, Bitcoin was down 5.8% over the past day, trading at $59,160.

Meanwhile, the nine-spot Ethereum ETFs collectively saw a significant drop in outflows, which stood at $3.45 million on August 28, marking the ninth consecutive day of outflows. Grayscale’s ETHE led the outflows once again, with $9.2 million leaving the fund, bringing its total outflows to the $2.55 billion mark since its launch on July 23. Meanwhile, Fidelity’s FETH and Bitwise’s ETHW were the only offerings to record inflows of $3.9 million and $1.9 million, respectively. The remaining six ETH ETFs saw no flows on the day.

These investment vehicles have also seen their daily trading volume rise to $129.9 million on August 28, an increase over the previous day. The spot Ether ETFs have experienced a cumulative net outflow of $481.32 million to date. At the time of publication, Ethereum was also down 8%, exchanging hands at $2,463.