- Spot Bitcoin ETFs Surpassed Expectations
- Outflows from Spot Ethereum ETFs
- Record Inflows in BlackRock ETFs
United States spot Bitcoin ETFs demonstrated impressive results, recording net inflows of $186.8 million over four consecutive days. Leading this surge was Fidelity's FBTC, with an inflow of $56.6 million.
Spot Bitcoin ETFs Surpassed Expectations
According to CoinGlass data, Bitwise’s BITB followed closely with $45.4 million in inflows, while Ark Invest’s ARKB and VanEck’s HODL saw inflows of $42.2 million and $20.5 million, respectively. Invesco’s BTCO recorded $10.2 million in inflows, Franklin Templeton’s EZBC had $8.7 million, and WisdomTree’s BTCW saw $3.2 million. However, Grayscale’s GBTC and other prominent ETFs experienced zero daily inflows.
Outflows from Spot Ethereum ETFs
While spot Bitcoin ETFs recorded an impressive $2.3 billion in trading volume, spot Ethereum ETFs reported net outflows of $15.1 million, adding to Monday’s $9.4 million outflows. Grayscale’s spot ETH ETFs experienced $17.9 million in net outflows on Tuesday with a trading volume of $176 million. Since their listing on July 23, these funds have amassed net outflows of $605.9 million, indicating a challenging period for Ethereum investors.
Record Inflows in BlackRock ETFs
Last month, BlackRock's iShares ETFs saw unprecedented BTC and ETH inflows. According to reports, these inflows marked the largest ever for the asset management giant in cryptocurrency products. BlackRock's iShares Bitcoin ETF accumulated 351,454 BTC ($21 billion) on August 21, with about 933 BTC in inflows. Within a week, BlackRock Bitcoin ETFs inflow amounted to 2,891 BTC, worth approximately $176,155,857. Similarly, BlackRock’s spot Ethereum ETF experienced inflows of about 10,300 ETH (worth over $26.88 million) within 24 hours. Consequently, BlackRock's spot ETH ETFs hold a total of 332,723 ETH, equivalent to $867.74 million.
These data indicate that spot Bitcoin ETFs continue to gain traction among institutional and retail investors, while spot Ethereum funds face challenges. The renewed interest in Bitcoin suggests a regained confidence in cryptocurrencies as a viable asset class.
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