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Bitwise Asset Management and Osprey Funds announced on Aug. 27 that the Bitwise Bitcoin ETF will absorb $120 million worth of BTC from the Osprey Bitcoin Trust as part of an Asset Purchase Agreement.

After Pavel Durov’s arrest over the weekend, Max Keiser shared on X that Bitcoin is the only secure crypto, and other altcoins like XRP and ADA are more vulnerable to legal challenges.

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These outflows ended a two-day streak of positive flows, and stood in stark contrast to spot Ethereum ETFs which saw $10.77 million in inflows.

Despite the success of the Ethereum layer-2 ecosystem, Grayscale’s Ethereum Trust ETF is still struggling to fight daily outflows.

Massive outflows of up to $16M and $90M from $ETH and $BTC ETFs indicate a cautious shift in the crypto market regarding investor sentiment.

Bitcoin $BTC ETFs witnessed a remarkable inflow of $195M while Ethereum $ETH ETFs went through a slight outflow of up to $3M.

On Aug. 6, spot Bitcoin ETFs saw $148.5 million in net outflows while spot Ethereum ETFs brought in $98.4 million in net inflows.

The cumulative outflows of Bitcoin $BTC ETFs reached $149 million with Ethereum $ETH ETFs witnessing $98M in net inflows.

Nasdaq’s options exchange has asked permission from U.S. regulators to allow options trading on spot Ethereum ETFs.