Ethereum

Bitcoin ETF

Bitcoin

Spot

Spot Bitcoin exchange-traded funds in the U.S. saw a notable surge in inflows while spot Ether ETFs outflows slowed down.
According to <a href="https://sosovalue.com/assets/etf/us-btc-spot" target="_blank" rel="noopener noreferrer nofollow">data </a>from SoSoValue, the 12 spot Bitcoin ETFs saw inflows of $192.56 million on Aug. 8. This was a surge of over four times <a href="https://crypto.news/spot-btc-etfs-see-positive-inflows-for-the-first-time-in-3-days-eth-etfs-net-outflows/" target="_blank" rel="noopener noreferrer nofollow">compared to the $45.14 million</a> recorded the previous day.
<a href="https://crypto.news/tag/Blackrock/" target="_blank" rel="noopener noreferrer nofollow">BlackRock</a>’s IBIT led the lot with $157.6 million, bringing its total inflows since launch to $20.3 billion. WisdomTree’s BTCW followed with $118.5 inflows — its highest since its debut.
These funds were the only ones to record a second consecutive day of inflows.&nbsp;
Additional inflows went into FIdelity’s FBTC and ARK 21Shares’s ARKB, which logged $65.2 million and $32.8 million respectively. Meanwhile, VanEck’s HODL fund raked in the least inflows, with $3.4 million flowing in.
These inflows managed to offset the $2.9 million leaving <a href="https://crypto.news/tag/grayscale/" target="_blank" rel="noopener noreferrer nofollow">Grayscale</a>’s GBTC, which has shed over $19.3 billion since launch. Flows into the other offerings remained neutral.
Trading volume for these offerings jumped to $2.02 billion, eclipsing the $1.79 billion seen the previous day. Cumulative net inflows into spot BTC ETFs stood at $17.43 billion.
You might also like: <a href="https://crypto.news/analyst-morgan-stanleys-bitcoin-etfs-are-last-taboo-to-adoption/" rel="noopener noreferrer nofollow"> Analyst: Morgan Stanley’s Bitcoin ETFs are ‘last taboo’ to adoption </a>
Ethereum ETFs saw net outflows of $2.9 million on Aug. 8, led by Grayscale’s offering, with $19.8 million leaving the ETHE fund. Fidelity’s FETH recorded its first day of outflows since launch, with $2.6 flowing out.
BlackRock’s ETHA, Grayscale’s Ether mini trust, and Bitwise’s ETHW were the only ETH ETFs to log inflows of $11.7 million, 5 million, and 2.8 million on the day. The other ETFs saw zero flows.
This marked the second consecutive day of outflows from these offerings, which was notably lower than the $23.7 recorded the previous day.
However, the nine Ether ETFs saw a slight jump in trading volume to $338.49 million. To date, these funds have seen cumulative net outflows of $390.23 million.
At the time of writing, Bitcoin (<a href="https://crypto.news/price/bitcoin/" target="_blank" rel="noopener noreferrer nofollow">BTC</a>) was exchanging hands at $60,914, while Ethereum (<a href="https://crypto.news/price/ethereum/" target="_blank" rel="noopener noreferrer nofollow">ETH</a>) stood at $2,688.
Read more: <a href="https://crypto.news/blackrock-seeks-to-launch-options-on-ethereum-etf/" rel="noopener noreferrer nofollow"> BlackRock seeks to launch options on Ethereum ETFs. What does this mean for the market? </a>

Spot Bitcoin ETF inflows surge four-fold, Ether ETF outflows slow down

crypto.news

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