Spot Bitcoin (BTC) Exchange-Traded Funds in the United States See Net Outflows of $127.05 Million on Aug. 28 Led by ARK 21Shares' ARKB

Data from SoSoValue indicates that the 12 U.S. spot Bitcoin exchange-traded funds experienced net outflows on Aug. 28, breaking an eight-day streak of positive inflows.

U.S. spot Bitcoin exchange-traded funds (ETFs) saw net outflows of $127.05 million on Aug. 28, breaking an eight-day streak of positive inflows, data from ETF tracking firm SoSoValue showed on Monday.

During the eight-day period of inflows, these funds had attracted a total of $756 million from the market.

On Tuesday, the U.S. spot Bitcoin funds saw net outflows, which were led by ARK 21Shares’ ARKB, experiencing net outflows of $101.97 million — the largest outflow from the fund to date, according to SoSoValue’s data. Grayscale’s Bitcoin Trust (NYSE:GBTC) reported net outflows of $18.32 million, while Bitwise’s Bitcoin Strategy ETF (NYSE:BITB) saw $6.76 million in outflows. Valkyrie’s Bitcoin Strategy ETF (NYSE:BRRR) was not updated at the time of writing.

Meanwhile, the remaining eight funds, including BlackRock's iShares Bitcoin Strategy ETF (NYSE:IBIT), saw no flows on the day. Excluding BRRR, the total trade volume for U.S. spot Bitcoin ETFs reached $1.2 billion. Since January, these funds have collectively seen net inflows amounting to $17.95 billion.

Nasdaq To List Bitcoin Options; CME To Introduce Smaller BTC Futures Contracts

At the same time, the broader market is seeing several developments that could impact investor behavior.

Nasdaq has filed with the U.S. Securities and Exchange Commission to list the Bitcoin Index Options, which will track Bitcoin’s price via the CME CF Bitcoin Real-Time Index. This move, pending regulatory approval, aims to improve market transparency and offer investors better tools to manage and hedge their crypto positions.

In other news, CME Group is planning to introduce smaller-sized Bitcoin futures contracts, which could appeal to retail investors.

At the time of writing, Bitcoin (BTC) is down 5.8% over the past day, trading at $59,160, as per data from crypto.news.

Ether ETFs Continue To Record Outflows

Coming back to the ETF flows, the nine-spot Ethereum ETFs collectively saw a significant drop in outflows, which stood at $3.45 million on Aug. 28, marking the ninth consecutive day of outflows.

Grayscale's ETHE led the outflows once again, with $9.2 million leaving the fund, bringing its total outflows to the $2.55 billion mark since its launch on July 23. Meanwhile, Fidelity's FETH and Bitwise's ETHW were the only offerings to record inflows of $3.9 million and $1.9 million, respectively. The remaining six ETH ETFs saw no flows on the day.

These investment vehicles have also seen their daily trading volume rise to $129.9 million on Aug. 28, an increase over the previous day. The spot Ether ETFs have experienced a cumulative net outflow of $481.32 million to date. At the time of publication, Ethereum (ETH) was also down 8%, exchanging hands at $2,463.

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