Spot Bitcoin exchange-traded funds (ETFs) in the United States experienced positive flows once again, while spot Ethereum ETFs saw substantial outflows, ending their three-day streak of gains.

Bitcoin ETFs Register Positive Inflows

Data from SoSoValue reveals that on August 15, the twelve U.S. spot Bitcoin ETFs had a collective inflow of $11.11 million, reversing the previous day’s negative flow. Fidelity’s FBTC led with $16.2 million in inflows, followed by Grayscale’s Bitcoin Mini Trust and Biwise’s BITB, which saw $13.7 million and $6.2 million, respectively. Grayscale’s GBTC was the only fund to record outflows, with $25 million on the day, bringing its total net outflows to $19.57 billion since inception. The remaining seven Bitcoin ETFs reported no changes in their flows.

Ethereum ETFs See Significant Outflows

Conversely, the nine Ethereum ETFs collectively saw $39.21 million in outflows on August 15, a reversal from the previous daily inflows of $10.8 million and $24.3 million. Leading the outflows was Grayscale’s ETHE, with $42.5 million in continued outflows, accumulating total outflows of $2.38 billion since inception. Meanwhile, Fidelity’s FETH and BlackRock’s ETHA saw modest inflows of $2.5 million and $0.8 million, respectively. The remaining seven Ethereum ETFs showed no significant activity. Despite these outflows, Ether ETFs experienced a rise in trading volume, totaling $240.58 million, higher than the previous day. These funds have seen a cumulative net outflow of $405.11 million to date.

Leveraged Fund MSTX Gains Attention

The U.S. Securities and Exchange Commission has approved the launch of a new leveraged fund, MSTX, by Defiance, a U.S.-based ETF issuer. This fund aims to provide investors with 175% daily long exposure to MicroStrategy, offering leveraged exposure to innovative companies without the need for a margin account. On its debut trading day, MSTX generated $22 million in volume, which might set a new record.

Crypto Market Stability

Despite these developments, the broader crypto market has shown a tepid response. Most major cryptocurrencies have remained stable or recorded minimal increases. Bitcoin gained 0.77%, while Ethereum managed a lower increase of 0.16%. Bitcoin temporarily dipped below the $57,000 mark but climbed back up to $58,442 at the time of writing. Aptos and Celestia took the biggest hit among the top ten by market cap, down 4.9% and 3.8%, respectively.

Bitcoin is currently retesting the bottom of its trading channel as support, which could favorably impact its potential for a future upward trend continuation.

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