U.S. spot Bitcoin ETFs recorded outflows of $201.81 million on August 28, marking a reversal after nine consecutive days of inflows totaling $3.04 billion, according to data from SoSo Value.
The shift in Bitcoin ETF flows coincided with a pullback in BTC price action. Bitcoin had surged from $63,000 to break past the $80,000 resistance level during the inflow streak but fell to $78,275.24 at the time of reporting. The pattern differs in Europe, where BitWise's Bitcoin ETP recently reached $155.5 million in assets, up from earlier levels of $100–$130 million.
Altcoins Continue to Attract Capital
Unlike Bitcoin ETFs, Ethereum ETFs maintained their inflow momentum, recording $102.18 million in inflows on August 28. Over a ten-day period, Ethereum ETFs accumulated $1.52 billion in inflows, corresponding with ETH price appreciation from around $1,900 to $2,458.84.
Other altcoin ETFs similarly recorded inflows on August 28: XRP ETFs saw $26.20 million, Solana ETFs received $18.08 million, and HYPE ETFs recorded $4.48 million. XRP ETFs reached a new 2026 record of $2 billion in combined assets under management. Solana ETFs accumulated approximately $1.7 billion in total inflows, with Bitwise's Solana Staking ETF surpassing $1 billion in AUM.
Market Context
The shift toward altcoin inflows may reflect investor positioning ahead of September, historically a weaker month for Bitcoin from 2017 through 2022 when BTC posted six consecutive negative September returns. However, this pattern has shifted, with positive September closes recorded in 2023, 2024, and 2025. The altcoin season index stood at 30 at the time of reporting, classified as a Bitcoin season, indicating room for Bitcoin to maintain relative strength over altcoins.
