The funds made nearly $250 million on August 23, their greatest day of the month.
On Friday, Grayscale’s GBTC saw $70 million leave the fund.
U.S spot bitcoin exchange-traded funds (ETFs) had a negative month in August, with a total net outflow of around $94 million, despite an eight-day bullish streak.
But according to SoSoValue statistics, that amount is well within the range of a single good or terrible day. While spot bitcoin ETFs lost $237 million on August 2, their worst day of the month, the funds made nearly $250 million on August 23, their greatest day of the month.
Outflow Outperforming Inflows
All commercially accessible bitcoin funds had a cumulative net asset decline of $4.24 billion in August, bringing the total to around $53.8 billion, as the price of bitcoin plummeted from its peak earlier in the month.
In August, the funds saw an eight-day run of net inflows. However, the monthly net went negative due to recent withdrawals, which included the first outflows recorded by industry leader BlackRock’s IBIT fund since May. Despite four other funds reporting outflows on Friday—the final trading day of the month—IBIT and the majority of other funds had zero net inflow.
On Friday, Grayscale’s GBTC saw $70 million leave, bringing the total outflow for the year to roughly $20 billion. According to SoSoValue, ARK and 21Shares’ ARKB both had $65 million in withdrawals, Bitwise’s BITB had $16 million, Fidelity’s FBTC had roughly $13 million, and Invesco’s BTCO had $11 million.
There were no significant inflows or outflows across the board for Ethereum spot ether ETFs on Friday, marking their first day of such stats. Approximately $7 billion worth of assets are held by the funds as of the end of the month.
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