Deniz 
U.S. spot bitcoin exchange-traded funds (ETFs) recorded a red mark for the month of August, registering a total net outflow of over $94 million despite an eight-day run of positive net inflows.
Based on SoSoValue’s data, that total falls quite nicely within the limits of one good or terrible day. While the funds lost $237 million on their lowest day, Aug. 2, spot bitcoin ETFs netted nearly $250 million on Aug. 23, the greatest day for the funds this month. The total net assets owned by all the commercially available bitcoin funds dropped $4.24 billion in August to roughly $53.8 billion as bitcoin’s price dropped from its high earlier in the month.
Before recent outflows, August saw the funds enjoy an eight-day run of net inflows; industry leader BlackRock’s IBIT fund logged initial outflows that sent the monthly net into the negative. IBIT and most other funds registered negative net flow on Friday, the last trading day of the month; four other funds logged outflows.
Grayscale’s GBTC, which witnessed $70 million worth of outflows on Friday, almost surpassing a $20 billion cumulative outflow since the start of the year, accounted for the largest outflows. According to SoSoValue, also registering outflows were ARK and 21Shares’ ARKB with $65 million, Bitwise’s BITB with $16 million, Fidelity’s FBTC with about $13 million, and Invesco’s BTCO with $11 million.
On the Ethereum side, the spot ether ETFs on Friday had their first day of no noteworthy inflows or outflows generally. Spot ether ETFs recorded almost $1 billion worth of trade in their first two days of trading on the market back in July; traffic has mostly dropped since then. SoSoValue data shows that the funds have had a total net outflow of $477.25 million since launch.
As of the end of the month, the funds have assets slightly shy of $7 billion overall. With Grayscale’s two funds, ETHE and ETH, totaling $5.4 billion, BlackRock’s ETHA is the third-largest among the other funds that comprise the total. Over all the spot ether funds, the weekly outflow came to $12.6 million.
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