Bitcoin ETFs See Major Inflows as Ether ETFs Experience Slowdown

Spot Bitcoin exchange-traded funds (ETFs) in the U.S. experienced a significant increase in inflows, while spot Ether ETFs saw a slowdown in outflows.

According to data from SoSoValue, the 12 spot Bitcoin ETFs witnessed inflows of $192.56 million on August 8, a substantial rise compared to the $45.14 million recorded the previous day. Among these, BlackRock’s IBIT led with $157.6 million, pushing its total inflows since launch to $20.3 billion. WisdomTree’s BTCW followed, recording its highest inflows since debut with $118.5 million. These funds were the only ones to achieve a second consecutive day of inflows.

Additional inflows were noted in Fidelity’s FBTC and ARK 21Shares’s ARKB, which logged $65.2 million and $32.8 million respectively. On the lower end, VanEck’s HODL fund saw inflows of $3.4 million. These positive inflows helped offset the $2.9 million outflows from Grayscale’s GBTC, which has seen a total outflow of $19.3 billion since its inception. Other offerings remained neutral.

Trading volumes for these Bitcoin ETFs surged to $2.02 billion, surpassing the $1.79 billion recorded the previous day. Cumulative net inflows into spot BTC ETFs reached $17.43 billion.

Ethereum ETFs saw net outflows of $2.9 million on August 8, led by Grayscale’s ETHE fund which saw $19.8 million leaving.

Fidelity’s FETH recorded its first day of outflows since launch, with $2.6 million exiting the fund. However, BlackRock’s ETHA, Grayscale’s Ether mini trust, and Bitwise’s ETHW were the only ETH ETFs to register inflows of $11.7 million, $5 million, and $2.8 million respectively. Other ETFs saw no significant movements in their flows.

This marked the second consecutive day of outflows for Ether ETFs, although the outflow amount was lower than the $23.7 million recorded the previous day. Despite this, trading volume for these Ether ETFs slightly increased to $338.49 million. To date, these funds have accumulated net outflows of $390.23 million.

As of the time of writing, Bitcoin was trading at $60,914, while Ethereum was valued at $2,688.

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