US spot Bitcoin ETFs see $202M outflows as BTC price dips below $78K
US spot Bitcoin ETFs experienced $201.81 million in outflows on August 28, ending a nine-day streak of inflows totaling about $3 billion. The total assets under management for the 12 listed ETFs fell below $100 billion to around $96.5 billion. The drop in Bitcoin price from above $81,000 to below $78,000 prompted institutional investors to reduce exposure, with ARK 21Shares' ARKB seeing the largest outflows of $114.89 million. Despite the selloff, BlackRock's IBIT remains the top ETF by cumulative gains this year, and overall holdings across these funds stay near 1.244 million BTC.
US spot Bitcoin ETFs experienced $201.81 million in outflows on August 28, ending a nine-day streak of inflows totaling about $3 billion. The total assets under management for the 12 listed ETFs fell below $100 billion to around $96.5 billion. The drop in Bitcoin price from above $81,000 to below $78,000 prompted institutional investors to reduce exposure, with ARK 21Shares' ARKB seeing the largest outflows of $114.89 million. Despite the selloff, BlackRock's IBIT remains the top ETF by cumulative gains this year, and overall holdings across these funds stay near 1.244 million BTC.
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