The post Spot Bitcoin ETF inflows surge four-fold, Ether ETF outflows slow down appeared on BitcoinEthereumNews.com.

Spot Bitcoin exchange-traded funds in the U.S. saw a notable surge in inflows while spot Ether ETFs outflows slowed down. According to data from SoSoValue, the 12 spot Bitcoin ETFs saw inflows of $192.56 million on Aug. 8. This was a surge of over four times compared to the $45.14 million recorded the previous day. BlackRock’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.  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 Grayscale’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. 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…

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Filed under: News - @ August 10, 2024 3:16 pm