Spot Bitcoin ETFs Record Inflows of $39.4M as Ether ETFs Decline

According to data from Soso value, Grayscale’s Bitcoin Mini Trust contributed most of the total amount with $14.2 million in net inflows. It is closely followed by Fidelity’s FBTC and Bitwise’s BITB, with $10.7 million and $10 million in inflows, respectively.

BlackRock’s IBIT, which is the largest spot Bitcoin ETF by net assets, saw $8.4 million in inflows, while Franklin Templeton’s EZBC and Invesco Galaxy’s BTCO received inflows of $3.5 million and $2.5 million, respectively.

Grayscale’s Bitcoin Trust was the only ETF to record negative flows, with a total outflow of $9.8 million on August 21. The remaining five Bitcoin ETFs recorded zero flows for the day.

While net inflows recorded on August 21 were down 55% compared to $88.06 million recorded on August 20, trading volumes for the 12 Bitcoin ETFs increased to $1.42 billion , up from $1.35 billion the previous day.

Fastest growing ETF of all time

Since their launch in January, local Bitcoin ETFs have continued to attract the attention of investors. The funds have accumulated a net inflow of $17.56 billion to date.

While most critics have discredited the popularity of Bitcoin ETFs among institutions, claiming that inflows are fueled by retail investors, Bitwise Chief Investment Officer Matt Hougan refuted the claim. He noted that Bitcoin ETFs are experiencing unprecedented institutional adoption, even more so than any other ETF in history.

Hougan compared Bitcoin ETFs to the ten fastest-growing new products of all time based on the number of institutional holders and total institutional AUM after two quarters on the market. The data revealed that Bitcoin ETFs exceeded both criteria.

Ether’s ETF exit streak continues

While Bitcoin ETFs have continued to attract massive inflows of capital from investors, their Ethereum counterpart is experiencing the opposite. Spot Ether ETFs recorded net outflows of $17.97 million on August 21, marking the fifth consecutive day of outflows.

However, BlackRock’s ETHA continues to see significant inflows despite the decline. The fund recently surpassed the $1 billion mark in net inflows.

SPECIAL OFFER (Sponsored) Binance Free $600 (Exclusive to CryptoPotato): Use this link to register a new account and receive an exclusive welcome offer of $600 to Binance (full details).

2024 LIMITED OFFER on BYDFi Exchange – Up to $2888 Welcome Reward, Use this link to register and open a 100 USDT-M position for free!