- Growth in Bitcoin ETF Inflows
- Interest in Ethereum ETFs
- Overall Analysis and Prospects
Over the past two days, spot ETFs for Bitcoin and Ethereum in the US have shown significant increases in inflows. Let’s look at the key trends and results.
Growth in Bitcoin ETF Inflows
According to data from SoSoValue, the 12 spot Bitcoin ETFs recorded a total inflow of $38.94 million on Aug. 13, representing a nearly 40% increase from the $27.87 million recorded the previous day. BlackRock’s IBIT fund led with $34.6 million in inflows, bringing its total since launch to $20.36 billion. It was the only Bitcoin ETF to see inflows for two consecutive days. Other notable inflows included $22.6 million into Fidelity’s FBTC and $16.5 million into Bitwise’s BITB. These gains helped to counterbalance a $28.6 million outflow from Grayscale’s GBTC, which has seen total outflows of $19.49 billion since its inception.
Interest in Ethereum ETFs
In contrast, the nine spot Ethereum ETFs saw a significant uptick in investor interest, with net inflows reaching $24.3 million on Aug. 13, a notable increase from the modest $5 million recorded the previous day. According to data from SoSoValue, BlackRock’s ETHA led the charge once again, with $49.1 million in inflows following a day of no flows.
Overall Analysis and Prospects
Trading volumes for Bitcoin ETFs were slightly lower at $1.18 billion, down from $1.3 billion on Aug. 12. The cumulative net inflows into spot Bitcoin ETFs stood at $17.4 billion. Meanwhile, trading volumes for Ethereum ETFs dropped significantly to $190.76 million, despite the increased interest. Overall, these funds have experienced cumulative net outflows of $376.67 million to date.
The growth in inflows into spot Bitcoin and Ethereum ETFs highlights the increasing investor interest in these instruments. It is essential to monitor further developments to assess the long-term prospects for both cryptocurrencies.
