Despite significant outflows earlier in August, investor interest in Bitcoin spot ETFs continues to rise. According to SoSoValue, the net inflow for these ETFs during the week ending Aug. 16 amounted to $32.58 million.
Mixed Signals in the Bitcoin Market
On Aug. 16, the net inflow for Bitcoin spot ETFs reached $36.015 million, sharply contrasting with a net outflow of $72.9033 million from GBTC on the same day. The historical net outflow from GBTC stands at $19.646 billion, while the Grayscale Bitcoin Mini Trust ETF BTC saw no net outflow on Aug. 16, maintaining its total net inflow at $288 million. The decline in GBTC's fortunes coincides with the NYSE's decision to pull back a proposed rule change that would have allowed the trading of similar ETFs.
Fidelity and BlackRock Lead
Among the Bitcoin spot ETFs, Fidelity’s FBTC recorded the highest net inflow on Aug. 16, with an impressive $61.3469 million, bringing the total historical net inflow to $9.804 billion. BlackRock's IBIT also saw a significant net inflow of $20.3854 million on the same day, bringing its historical total to $20.388 billion. The total net asset value of all Bitcoin spot ETFs stands at $54.353 billion, with an ETF net asset ratio of 4.65%. Historical cumulative net inflows have reached $17.370 billion, underscoring the growing acceptance and integration of Bitcoin ETFs in the investment landscape.
Conclusion
Despite the significant outflows earlier in August, Bitcoin spot ETFs exhibit steady growth in net inflows and investor interest. Major players like Fidelity and BlackRock continue to attract substantial funds, indicating investor trust in these financial instruments.
Bitcoin spot ETFs continue to draw investor attention despite recent market instabilities. Major financial entities show confidence in these products, aiding in their rising popularity.
Comments