Ethereum

United

Bitcoin

Spot

Spot Bitcoin and Ethereum exchange-traded funds in the United States saw joint positive inflows for the first time on Aug. 1 since the launch of the nine spot Ether ETFs on July 23. 
<h2 class="wp-block-heading" id="bitcoin-etfs-see-50-6m-in-inflows">Bitcoin ETFs see $50.6m in inflows</h2> 
According to <a href="https://farside.co.uk/?p=997" target="_blank" rel="">data</a> from Farside Investors, the 11 spot <a href="https://crypto.news/tag/bitcoin-etf/" target="_blank" rel="noreferrer noopener">Bitcoin ETFs</a> recorded a net inflow of roughly $50.6 million on Aug. 1, led by Grayscale’s newly <a href="https://crypto.news/grayscale-debuts-bitcoin-mini-trust-as-spot-btc-etp-on-nyse-arca/" data-type="post" data-id="14288526" target="_blank" rel="noreferrer noopener">launched</a> Grayscale Bitcoin Mini Trust, which alone recorded a substantial $191.1 million in inflows. 
Blackrock’s IBIT followed with a more modest inflow of $25.9 while continuing its third consecutive month without any outflows.&nbsp;Meanwhile, Grayscale’s GBTC experienced the most significant net outflows among the competing products with $71.3 million. 
This was followed by Fidelity’s FBTC with $48.4 million in net outflows, Ark and 21Shares’ ARKB with $22.4 million, Bitwise BITB with $20.7 million, and VanEck’s HODL with $3.6 million in net outflows. The remaining Bitcoin ETFs remained neutral. 
According to SoSoValue <a href="https://sosovalue.com/assets/etf/us-btc-spot" target="_blank" rel="">data</a>, the total daily trading volume for these spot Bitcoin ETFs was $2.91 billion on Thursday, Aug. 1, much higher than the $1.37 billion recorded on Tuesday, July 30, and Wednesday, July 31. 
<h2 class="wp-block-heading" id="ethereum-etfs-also-record-positive-inflows-of-26-7m">Ethereum ETFs also record positive inflows of $26.7m</h2> 
The daily net inflows into the nine U.S. spot <a href="https://crypto.news/tag/ethereum-etf/" target="_blank" rel="noreferrer noopener">Ethereum ETFs</a> also remained positive despite Grayscale’s Ethereum Trust (ETHE) experiencing cumulative outflows exceeding $2 billion. 
On Aug. 1, the Ethereum ETFs recorded a net inflow of $26.7 million, with BlackRock’s iShares Ethereum Trust leading the way with an $89.6 million inflow, according to Farside Investors <a href="https://farside.co.uk/?p=1518" target="_blank" rel="">data</a>. 
Grayscale’s Ethereum Trust saw outflows of $78 million on the same day, bringing the total outflows from the fund to over $2 billion since it was converted to a spot fund. Unlike the other eight spot Ethereum ETFs launched on July 23, ETHE was originally a trust offering institutional investors’ exposure to (<a href="https://crypto.news/price/ethereum/" target="_blank" rel="noreferrer noopener">ETH</a>) and was converted to a spot ETF on the same date. 
 You might also like: <a href="https://crypto.news/bitcoin-etfs-hold-inflows-by-a-string-ethereums-outflows-start-again/"> Bitcoin ETFs hold inflows by string, Ethereum’s outflows start again </a> 
Before its conversion, ETHE held $9 billion in Ethereum, with the recent outflow suggesting that 22% of the initial fund had been sold. 
Meanwhile, on Aug. 1, Fidelity’s FETH and Bitwise’s ETHW logged inflows of $11.7 million and $3.4 million, respectively, while the remaining Ethereum ETFs experienced no flows on that day. 
Per <a href="https://sosovalue.com/assets/etf/us-eth-spot" target="_blank" rel="">data</a> from SoSoValue, the total daily trading volume for these spot Ethereum ETFs was $331.11 million on Thursday, Aug. 1, lower than the $472.5 million recorded on Wednesday, July 31, and $563.22 million on Tuesday, July 30. 
In a July 29 post on X, Steno Research senior analyst Mads Eberhardt predicted that the substantial outflows from Grayscale’s ETHE would likely taper off this week, a trend that appears to have already started. “When it does, it’s up only from there,” remarked Eberhardt. 
At the time of writing, the price of Bitcoin (<a href="https://crypto.news/price/bitcoin/" target="_blank" rel="noreferrer noopener">BTC</a>) had dropped by approximately 0.2% to $64,200. Ethereum, the largest altcoin in the crypto market, has also seen a slight decline of about 0.7% over the past day, currently trading around $3,147. 
 Read more: <a href="https://crypto.news/bitcoin-ethereum-etfs-take-different-paths-amid-market-correction/"> Bitcoin, Ethereum ETFs take different paths amid market correction </a>

Bitcoin and Ethereum ETFs see first joint positive inflows since Ether ETF launch

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