BlackRock Leads with $20.02B Inflows, Grayscale Sees Significant Outflow
The post BlackRock Leads with $20.02B Inflows, Grayscale Sees Significant Outflow appeared on BitcoinEthereumNews.com.
On July 31, 2024, there were some major movements in the Bitcoin and Ethereum Exchange-Traded Funds (ETFs) landscape. While the data for inflows and outflows provide a complete picture of these digital assets, the following tables aggregated from SoSoValue and Lookonchain can also offer insights into their health. Bitcoin Spot ETFs: On July 31, 2024, Bitcoin spot ETFs had a net inflow of $298.93K in total, according to SoSoValue Grayscale’s ETF GBTC experienced a net outflow of 27,753 BTC, maintaining its total historical net outflows at $18.94B. Grayscale Bitcoin Mini Trust ETF BTC saw 26,936 votes for +$18M, bringing the total historical inflows to $25 B. The largest daily spot ETFs by aggregate flows were formed by BlackRock, with IBIT seeing a positive balance through yesterday. The inflow bumped IBIT’s historical net inflows to $20.03B overall. As of this writing, the aggregate net asset value of Bitcoin exchange-traded funds stands at $60.12 billion, representing 4.72% of the total market capitalization of Bitcoin. Cumulatively, $17.69 billion has flowed into these investment vehicles since inception. Bitcoin ETFs: Lookonchain data suggested that nine US Bitcoin ETFs registered a net outflow of 26,823 BTC totaling $1.77 billion as of July 31. In the case of Grayscale, an outflow of 27,753 BTC worth $1.84 billion was explicitly registered. Currently, Grayscale has 242,413 BTC worth an estimated $16.03 billion in assets under management. Ethereum ETFs: Lookonchain’s monitoring reveals that on July 31, 2024, a net total of 15,691 ether was withdrawn from nine US-based Ethereum ETFs. Valued at $51.94 million, this outflow saw Grayscale bear the brunt, with redemptions of 63,612 ether amounting to $210.56 million. Currently, Grayscale retains 2,107,764 ether worth approximately $6.98 billion. Market Sentiment: The July 31, 2024, data highlights mixed trends within the Bitcoin and Ethereum ETF markets. Although Bitcoin spot ETFs…
Filed under: News - @ August 1, 2024 6:26 am