Polygon (matic) 
Spot Bitcoin and Ethereum exchange-traded funds (ETFs) in the United States saw joint positive inflows for the first time on August 1 since the launch of the nine spot Ether ETFs on July 23.
Bitcoin ETFs See $50.6 Million in Inflows
According to data from Farside Investors, the 11 spot Bitcoin ETFs recorded a net inflow of approximately $50.6 million on August 1. Grayscale’s newly launched Grayscale Bitcoin Mini Trust led the way with a substantial $191.1 million in inflows. Blackrock’s IBIT followed with a more modest inflow of $25.9 million, marking its third consecutive month without any outflows.
Conversely, Grayscale’s GBTC experienced the most significant net outflows among the competing products, with $71.3 million. This was followed by Fidelity’s FBTC with $48.4 million in net outflows, Ark and 21Shares’ ARKB with $22.4 million, Bitwise BITB with $20.7 million, and VanEck’s HODL with $3.6 million in net outflows. The remaining Bitcoin ETFs remained neutral.
According to SoSoValue data, the total daily trading volume for these spot Bitcoin ETFs surged to $2.91 billion on Thursday, August 1, significantly higher than the $1.37 billion recorded on Tuesday, July 30, and Wednesday, July 31.
Ethereum ETFs Also Record Positive Inflows of $26.7 Million
The daily net inflows into the nine U.S. spot Ethereum ETFs remained positive despite Grayscale’s Ethereum Trust (ETHE) experiencing cumulative outflows exceeding $2 billion. On August 1, the Ethereum ETFs recorded a net inflow of $26.7 million, with BlackRock’s iShares Ethereum Trust leading the way with an $89.6 million inflow, according to Farside Investors data.
Grayscale’s Ethereum Trust saw outflows of $78 million on the same day, bringing the total outflows from the fund to over $2 billion since it was converted to a spot fund. Unlike the other eight spot Ethereum ETFs launched on July 23, ETHE was originally a trust offering institutional investors exposure to Ethereum and was converted to a spot ETF on the same date.
Before its conversion, ETHE held $9 billion in Ethereum, and the recent outflow suggests that 22% of the initial fund has been sold.
On August 1, Fidelity’s FETH and Bitwise’s ETHW logged inflows of $11.7 million and $3.4 million, respectively, while the remaining Ethereum ETFs experienced no flows on that day.
Per data from SoSoValue, the total daily trading volume for these spot Ethereum ETFs was $331.11 million on Thursday, August 1, lower than the $472.5 million recorded on Wednesday, July 31, and $563.22 million on Tuesday, July 30.
“When it does, it’s up only from there,” remarked Eberhardt.
At the time of writing, the price of Bitcoin had dropped by approximately 0.2% to $64,200. Ethereum, the largest altcoin in the crypto market, also saw a slight decline of about 0.7% over the past day, currently trading around $3,147.
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