Ethereum

United

Bitcoin ETF

Bitcoin

Spot

<p class="is-style-lead">Spot Bitcoin exchange-traded funds in the United States saw positive flows again, in contrast to spot Ethereum ETFs, which saw substantial outflows, ending their three-day run of gains.</p>
<p><a href="https://sosovalue.com/assets/etf/us-btc-spot" target="_blank" rel="noopener noreferrer nofollow">Data</a> from SoSoValue reveals that on Aug. 15, the twelve U.S. spot Bitcoin ETFs registered a collective inflow of $11.11 million, ending their <a href="https://crypto.news/spot-ether-etfs-continue-positive-flow-streak-bitcoin-etfs-witness-outflows/" target="_blank" rel="noopener noreferrer nofollow">short-lived</a> negative flow witnessed the previous day.</p>
<p>Fidelity’s FBTC led the charge with inflows of $16.2 million followed by Grayscale’s Bitcoin mini trust and Biwise’s BITB which saw $13.7 million and $6.2 million inflows, respectively. Grayscale’s GBTC was the only offering to see outflows of $25 million on the day, bringing its total net outflows to $19.57 billion since its launch. The remaining seven Bitcoin ETFs reported no changes in their inflows or outflows for the day.</p>
<h2 class="wp-block-heading" id="spot-ether-etfs-see-substantial-outflows">Spot Ether ETFs see substantial outflows</h2>
<p>Conversely, the nine Ethereum ETFs collectively saw <a href="https://sosovalue.com/assets/etf/us-eth-spot" target="_blank" rel="noopener noreferrer nofollow">$39.21 million in outflows </a>on Aug. 15, a flip from the previous daily inflows of $10.8 million and <a href="https://crypto.news/spot-bitcoin-and-ethereum-etfs-record-second-day-of-joint-inflows-streak/" target="_blank" rel="noopener noreferrer nofollow">$24.3 million</a>. Leading the outflows was Grayscale’s ETHE, with continued outflows of $42.5 million and accumulating total outflows of $2.38 billion since its inception.</p>
<p>Meanwhile, Fidelity’s FETH and BlackRock’s ETHA saw modest inflows of $2.5 and $0.8 million, respectively, on the day. The remaining seven Ethereum ETFs showed no significant activity. Despite these outflows, Ether ETFs experienced a jump in trading volume, totaling $240.58 million, higher than the previous day. These funds have seen a cumulative net outflow of $405.11 million to date.</p>
<p>You might also like: <a href="https://crypto.news/nyse-american-axes-bid-for-spot-bitcoin-etf-options/" rel="noopener noreferrer nofollow"> NYSE American axes bid for spot Bitcoin ETF options </a></p>
<h2 class="wp-block-heading" id="leveraged-fund-attracts-investor-focus">Leveraged fund attracts investor focus</h2>
<p>Meanwhile, the U.S. Securities and Exchange Commission has recently given the green light for the launch of a new leveraged fund, MSTX, by Defiance, a U.S.-based ETF issuer. The fund aims to provide investors with 175% daily long exposure to <a href="https://crypto.news/tag/microstrategy/" target="_blank" rel="noopener noreferrer nofollow">MicroStrategy</a>, enabling them to gain leveraged exposure to innovative companies without the need for a margin account.</p>
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   <p lang="en" dir="ltr">HEAT WAVE: Here's a look at the most volatile ETFs in the US and how <a href="https://twitter.com/search?q=%24MSTX&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$MSTX</a> is estimated to begin life today at the top spot. But look for this "volatility barrier" to be broken in the future as issuers look to push 'hot sauce' envelope, especially if <a href="https://twitter.com/search?q=%24MSTX&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$MSTX</a> finds an audience. <a href="https://t.co/rQQJL3ZUL9" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/rQQJL3ZUL9</a></p>— Eric Balchunas (@EricBalchunas) <a href="https://twitter.com/EricBalchunas/status/1824063900809093512?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">August 15, 2024</a>
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<p>On its debut trading day, MSTX generated <a href="https://x.com/EricBalchunas/status/1824185657037922723" target="_blank" rel="noopener noreferrer nofollow">$22 million</a> in volume, which might set a new record, according to Bloomberg’s Senior ETF Analyst, Eric Balchunas.</p>
<p>Despite this development and the introduction of IBIT, another ETF, the broader crypto market has shown a tepid response. Most major cryptocurrencies have remained stable or recorded minimal increases. Bitcoin (<a href="https://crypto.news/price/bitcoin/" target="_blank" rel="noopener noreferrer nofollow">BTC</a>) had only gained 0.77%, while Ethereum (<a href="https://crypto.news/price/ethereum/" target="_blank" rel="noopener noreferrer nofollow">ETH</a>) managed an even lower increase of 0.16%, per data from crypto.news.</p>
<p>Bitcoin dipped temporarily under the $57,000 mark but has since managed to climb back up to $58,442 at the time of writing. Aptos (<a href="https://crypto.news/price/aptos/" target="_blank" rel="noopener noreferrer nofollow">APT</a>) and Celestia (<a href="https://crypto.news/price/celestia/" target="_blank" rel="noopener noreferrer nofollow">TIA</a>) have taken the biggest hit among the top ten by market cap on the daily timeframe and are down 4.9% and 3.8%, respectively.</p>
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   <p lang="en" dir="ltr"><a href="https://twitter.com/hashtag/BTC?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">#BTC</a> <br><br>Still successfully retesting the Channel bottom as support<br><br>Continued price stability here would be beneficial for future trend continuation to the upside<a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$BTC</a> <a href="https://twitter.com/hashtag/Crypto?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">#Crypto</a> <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">#Bitcoin</a> <a href="https://t.co/rIboHiNb4D" target="_blank" rel="noopener noreferrer nofollow">https://t.co/rIboHiNb4D</a> <a href="https://t.co/03ElFSeFwE" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/03ElFSeFwE</a></p>— Rekt Capital (@rektcapital) <a href="https://twitter.com/rektcapital/status/1824113935638741321?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">August 15, 2024</a>
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<p>It remains to be seen if the bulls or the bears get the upper hand now, but analyst Rekt Capital noted in an Aug. 15 post on X that Bitcoin is currently retesting the bottom of its trading channel as support, indicated by a green circle on the chart. They also emphasized that maintaining price stability at this level could favorably impact the cryptocurrency’s potential for a future upward trend continuation.</p>
<p>Read more: <a href="https://crypto.news/wisconsin-adds-447k-shares-to-blackrock-bitcoin-etf-holdings/" rel="noopener noreferrer nofollow"> Wisconsin adds 447k shares to BlackRock Bitcoin ETF holdings </a></p>

Spot Bitcoin ETFs witness inflows of $11.11m, Ether ETFs break 3-day inflow streak

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