Spot Bitcoin ETFs See Total Net Outflows of About $94 Million in August

Following a fourth consecutive day of net outflows on Friday, U.S.-based spot bitcoin exchange-traded funds posted an overall net loss for the month of August, but it was a modest $94 million. On Aug. 23, the spot bitcoin ETF saw net inflows of more than $250 million, the fund's best performing day of the month, and on Aug. 2, the spot bitcoin ETF's worst-performing day saw net outflows of $237 million, according to SoSoValue. Total net assets held by all commercially available spot bitcoin ETFs fell by $4.24 billion in August to around $53.8 billion as bitcoin prices retreated from their highs earlier in the month, largely due to the decline in bitcoin prices from their early August values.