The post U.S Spot Bitcoin ETFs Reach August Peak with $252M Inflow appeared on BitcoinEthereumNews.com.

Friday’s net influx of $252 million was the greatest net inflow since July 22. Without surprise, BlackRock’s IBIT continued to dominate the other funds. With the continuation of a seven-day string of positive inflows on Friday, the aggregate value of the spot bitcoin exchange-traded funds in the US hit its highest point so far in August, at around $58.4 billion. In addition, according to statistics from SoSoValue, Friday’s net influx of $252 million was the greatest net inflow since July 22, 32 days ago. And the highest net inflow since the streak started as well. Without surprise, BlackRock’s IBIT, the biggest spot bitcoin ETF by total asset value, continued to dominate the other fund. With the greatest net inflow of almost $87 million. The second-highest inflow was $64 million into Fidelity’s FBTC. Despite being the only fund to record an outflow of $35 million, Grayscale’s GBTC, the second-largest ETF by asset value, saw $50 million inflow into its Bitcoin Mini Trust (BTC). Investments of $42 million were received by Bitwise’s BITB, $24 million by Ark and 21Shares’ ARKB, and $14 million by VanEck’s HODL. Among the remaining funds, only BTCO (Invesco) and BRRR (Valkyrie) had inflows of $3 million and $2 million, respectively. Spot Ether ETFs Struggle At the same time as bitcoin ETFs have been gaining for seven days in a row, spot ether ETFs have been losing money. A further $5.7 million was removed from the funds on Friday, increasing the total amount removed since the streak started on August 15th to roughly $99 million. Despite a negative total due to a $9.8 million outflow from Grayscale’s ETHE on Friday, ETHV (VanEck) and ETHW (Bitwise) both had $2.0 million and $1.4 million in inflows, respectively. The other funds did not see a substantial shift in assets, whereas Fidelity’s…

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Filed under: News - @ August 25, 2024 9:24 pm