Spot Bitcoin ETF inflows surge four-fold, Ether ETF outflows slow down

In the US, there has been a significant increase in inflows into spot Bitcoin exchange-traded funds, while outflows from spot Ether ETFs have slowed.

According to data from SoSoValue, $192.56 million worth of inflows were seen across 12 spot Bitcoin ETFs on August 8. This is a more than four-fold increase from the $45.14 million recorded the day before.

BlackRock’s IBIT took the lead with $157.6 million, bringing its total inflow since launch to $20.3 billion. WisdomTree’s BTCW followed with an inflow of $118.5 million — its highest inflow since launch.

These funds were the only funds to record inflows for the second consecutive day.

Additional inflows went to FIdelity’s FBTC and ARK 21Shares’ ARKB, which recorded $65.2 million and $32.8 million, respectively. Meanwhile, VanEck’s HODL fund saw the least inflows, with $3.4 million in flows.

These inflows managed to offset the $2.9 million that left Grayscale’s GBTC, which has lost more than $19.3 billion since launch. Flows to other offerings remained neutral.

Trading volume for these offerings rose to $2.02 billion, surpassing the $1.79 billion seen 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 offering, with $19.8 million exiting the ETHE fund. Fidelity’s FETH recorded its first day of outflows since launch, with $2.6 million flowing in.

BlackRock’s ETHA, Grayscale’s Ether mini trust, and Bitwise’s ETHW were the only ETH ETFs to record inflows of $11.7 million, $5 million, and $2.8 million during the day, respectively. Other ETFs saw zero inflows.

This was the second consecutive day of outflows from these bids and was noticeably lower than the $23.7 recorded the previous day.

However, nine Ether ETFs saw a slight increase in trading volume to $338.49 million. Year to date, these funds have seen cumulative net outflows of $390.23 million.

At press time, Bitcoin (BTC) was trading at $60,914 and Ethereum (ETH) was trading at $2,688.