The Bitcoin ETF market continued to decline at the beginning of the week as the Bitcoin price fell 2.81% on Sunday, currently trading at $57,557. In such market conditions, Bitcoin ETFs have been on a sharp downward trend.

Last week, from August 26 to 30, Bitcoin ETFs declined with a total net outflow of $277 million. The majority of the outflows came from ARK Invest’s ARKB ETF and 21Shares with a withdrawal of $220 million. Similarly, the Grayscale GBTC fund also recorded a significant outflow of $119 million.

Meanwhile, Ethereum spot ETFs were less pessimistic and unexpectedly showed signs of recovery. The total outflow was only $12.6 million during the same period. The Grayscale Ethereum ETHE fund recorded an outflow of $27.86 million. Meanwhile, BlackRock’s ETHA and Grayscale’s Mini Ethereum Trust saw inflows increase by $8.4 million and $3.57 million, respectively.

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