ETFs News: Bitcoin ETF Streak Ends With $201.9 Million Outflow as Ether Funds Extend to 12 Days

US spot Bitcoin ETFs recorded a net outflow of $201.9 million, ending nine consecutive trading days of net inflows, according to Farside data. Spot Ethereum ETFs went the other way, taking in $102.1 million for a 12th consecutive session.The Split Follows Warsh's Hawkish Jackson Hole KeynoteThe reversal in Bitcoin flows lands immediately after Fed Chairman Kevin Warsh's first Jackson Hole address, which markets read as more hawkish than expected.Warsh said the Fed's "predominant focus right now should be on prices," with PCE at 3.7% on a 12-month basis and 4.1% over six months. He dismissed the summer's softer prints as not indicating that underlying trends had improved, and said he "would be hard pressed to describe broad financial conditions as restrictive."September hike odds jumped to 42% from 35% per CME FedWatch, with StoneX's Fawad Razaqzada putting the intraday repricing at 30% to roughly 50%. Bitcoin dipped to $78,700.ETF flows respond to macro conditions with a lag, which is why the outflow arrived the session after the speech rather than during it. The nine-day streak had been built on the opposite backdrop — lower long-end yields and a weaker dollar following Treasury Secretary Bessent's bond buyback expansion.Ether Funds Now Run Three Sessions Longer Than Bitcoin'sThe 12-day Ethereum streak against Bitcoin's broken nine-day run is the more analytically interesting detail.Ether ETFs began their run before Bitcoin's and have now continued through the session that broke it. That divergence has precedent from earlier in the summer, when ETH ETF inflows outpaced Bitcoin's in specific weeks while Bitmine accumulated more than 10,000 ETH weekly and ETH exchange outflows ran $164.6 million over a single week.Ether also outperformed through the rally itself, gaining 31.3% in the week Bitcoin added 23.6%, and closed above its 200-day moving average alongside Bitcoin with a golden cross forming.Whether the divergence reflects a genuine allocation preference or simply different flow timing will be clearer if Ether's streak survives another session or two of Bitcoin outflows.August Still Finishes as the Strongest Month of 2026The outflow arrives at the end of a month that was already historic for the Bitcoin funds.The nine-day streak pulled roughly $2.8 billion into the products, with August flows clearing $3 billion — the strongest month of 2026 and roughly double April's total. Bitcoin ETF assets climbed to more than $99 billion from about $77 billion in mid-August, though most of that $22 billion gain came from price appreciation rather than fresh money.August had needed one more session of net buying to pass October 2025 as the biggest inflow month since the funds launched. The $201.9 million outflow removes that.The funds also remain net negative for 2026 by roughly $2.5 billion, meaning August recovered a little more than half of what left between May and July.The Supply Wall Makes the Flow Reversal ConsequentialThe timing matters because of where Bitcoin is trading.Glassnode data shows nearly 8% of Bitcoin's supply was acquired between $80,000 and $82,000 — the largest concentration at any comparable range, with roughly 5% at $80,000 alone. The average cost basis of US spot ETF deposits sits in the same band, and the 50-week moving average is at $81,081, where Bitcoin was rejected earlier in the week at an $81,265 high.The Bitfinex analyst team described the setup as "a squeeze that has run into a defined population of sellers," pointing to spot demand absorbing overhead supply between $77,100 and $80,000. Absorbing that supply requires sustained spot demand rather than short covering — QCP Capital flagged that falling open interest pointed to short covering rather than fresh buying, with spot ETF inflows supplying the genuine demand.That demand just paused. Whether it resumes depends substantially on the non-farm payrolls report and CPI release landing before the September 16 meeting. Bloomberg Chief Economist Anna Wong has argued next week's payrolls may print weak or even negative, noting there is no precedent in modern Fed history for hiking after two consecutive negative readings.