Spot Bitcoin ETFs log $62m in inflows, Ether ETFs continue 3-day outflow streak

While spot Bitcoin ETFs started the week on a positive note, spot Ether ETFs continued with negative flows for the third consecutive trading day.

According to data from SoSoValue, 12 spot Bitcoin exchange-traded funds in the United States saw inflows of $61.98 million on August 19. This represents a 72% increase compared to net inflows of $36.01 million on the same day.

BlackRock’s IBIT led the way with $92.7 million, bringing its total inflows since launch to $20.48 billion. Fidelity’s FBTC followed with modest inflows of $3.9 million. These funds were the only funds to record inflows for the second day in a row.

Market data on inflows/outflows for spot Bitcoin ETFs as of August 19 | Source: SoSoValue

Bitwise’s BITB and Invesco Galaxy’s BTCO saw net outflows of $25.7 million and $8.8 million, respectively, recouping some of the gains these investment vehicles saw on August 19. Grayscale’s GBTC saw no inflows on the day, the first such day since its launch. The investment product has recorded continuous outflows totaling $19.64 billion since its inception.

The remaining seven Bitcoin ETFs also remained neutral as the cryptocurrency market awaits a correction. Total spot BTC ETF inflows have now surpassed the $17.4 billion mark.

Data from Crypto.news shows that the global crypto market capitalization has increased by 2.4% in the last 24 hours, currently reaching $2.24 trillion. Total 24-hour trading volume has also increased, hovering around $79.5 billion. Bitcoin (BTC) is up 4.2% in the last 24 hours, trading at $60,937 at the time of writing.

Ether ETFs record $13.5 million outflow

In comparison, nine Ethereum ETFs saw a total of $13.52 million in outflows on August 19, marking the third consecutive day of outflows.

Leading the way was Grayscale’s ETHE with $20.3 million in ongoing outflows, contributing to a total outflow of $2.43 billion since its inception. Meanwhile, Grayscale Bitcoin Mini Trust and Bitwise’s ETHW were the only offerings, recording modest inflows of $4.9 million and $1.9 million during the day. The remaining six Ethereum ETFs saw no activity during the day.

Trading volume for Ether ETFs fell to $124 million, significantly lower than the $185 million seen the previous trading day. These funds have seen cumulative net outflows of $433.62 million to date. As of press time, Ethereum (ETH) was trading up 2.3% at $2,673.