Spot BTC ETFs see positive inflows for the first time in 3 days, ETH ETFs net outflows

While net positive flows were seen in spot Bitcoin (BTC) exchange-traded funds in the US for the first time in three days, net outflows were experienced in their Ethereum counterparts.

Spot Btcon ETFs record $45.1 million inflows

According to data from Farside Investors, there was a net inflow of $45.1 million into 11 spot Bitcoin ETFs on Aug. 7. This reversed the previous three-day trend of $554.4 million in outflows.

BlackRock’s IBIT led the inflows with $52.5 million. WisdomTree’s BTCW followed with $10.5 million, its largest net inflow to date. Grayscale’s Bitcoin Mini Trust added $9.7 million, and Bitwise’s BITB saw net inflows of $3 million.

Grayscale’s converted GBTC fund was the only Bitcoin ETF to experience net outflows on Aug. 7, with $30.6 million withdrawn. The fund has seen outflows of about $19.2 million since launch. Other spot Bitcoin ETFs were neutral.

According to SoSoValue data, the total daily trading volume of such Bitcoin ETFs stood at $1.79 billion on August 7. This was below the $2.2 billion recorded the previous day.

Since January, there has been a total of $17.23 billion in net inflows into spot Bitcoin ETFs.

Ether ETFs see breakout

9 spot Ethereum (ETH) ETFs experienced net outflows on August 7 after two consecutive days of inflows, losing $23.68 million.

Data from Farside Investors shows that the outflows were led by Grayscale’s ETHE fund, which exited the fund with $31.9 million. The fund has recorded net outflows of $2.23 billion since its launch.

Among other offerings, Fidelity’s FETH saw net inflows of $4.7 million. Bitwise’s ETHW and Franklin Templeton’s EZET reported net inflows of $1.7 million and $1.8 million, respectively. The rest of the funds saw no inflows.

Despite the inflows over the past 2 days, the funds have seen outflows of $387.7 million since their listing date, offset by Grayscale’s ETHE.

The inflows into the Bitcoin ETF coincide with the cryptocurrency market continuing its recovery from the bloody period on Aug. 5. This is being fueled by concerns about a possible recession in the U.S., Fed policies and instability in Japanese markets.

As of now, Bitcoin (BTC) is trading at $57,379, up 1% in the last 24 hours. Ethereum (ETH) is down 42.9% in the same period and is currently trading at $2,426.