U.S. bitcoin ETFs posted outflows of $13.29 million on Friday, marking a fourth consecutive day of redemptions. In contrast, ether funds moved sharply in the opposite direction, attracting $216.41 million and closing a fourth consecutive week with net inflows.
Bitcoin ETF Weakness Persists
Bitcoin funds remained under pressure on Friday, though the pace of redemptions slowed from earlier in the week. BlackRock's IBIT recorded a $19.23 million outflow, offset partially by inflows to other funds including Morgan Stanley's MSBT with $3.76 million and Vaneck's HODL with $2.18 million.
Total bitcoin ETF trading value reached $2.60 billion, with net assets closing at $97.58 billion. For the week, bitcoin ETFs accumulated outflows of $462.73 million. Bitcoin's price held around $77,000 throughout the period.
Ether ETFs Deliver Strong Inflows
Ether ETFs recorded $216.41 million in net inflows across six funds on Friday. BlackRock's ETHA led with $148.82 million, followed by Bitwise's ETHW with $29.09 million and BlackRock's ETHB with $18.32 million. Fidelity's FETH contributed $11.40 million, while Grayscale's Ether Mini Trust and Vaneck's ETHV added $5.09 million and $3.71 million respectively.
Trading value in ether ETFs surged to $2.56 billion, with net assets climbing to $16.31 billion. For the week, ether ETFs recorded approximately $197 million in net inflows, extending their winning streak to four consecutive weeks.
Mixed Performance Across Other Crypto Assets
HYPE ETFs lost $8.18 million, with Bitwise's BHYP shedding $6.78 million and 21Shares' THYP losing $1.40 million. Net assets in HYPE closed at $430.22 million.
Solana ETFs slipped by $278,840 entirely from Bitwise's BSOL, while trading value reached $98.90 million and net assets ended at $1.42 billion. XRP ETFs recorded no net flows, leaving net assets at $1.45 billion.
Inflation Data Limits Market Support
Recent U.S. inflation data offered limited support for bitcoin assets. August CPI rose 0.4% from July, while annual inflation held at 3.4%. Core inflation eased to 2.4% year over year, its lowest level since March 2021.
Markets continue to weigh the risk of restrictive monetary policy. Institutional flows remain under close watch as observers monitor whether bitcoin can reclaim the $80,000 level.
