Bitcoin ETF

Bitcoin

Spot

Fidelity led the way for the second consecutive day with $61.3 million worth of inflows to its spot Bitcoin ETF — the Fidelity Bitcoin Fund. BlackRock’s IBIT followed with $20.4 million in inflows after a day of inactivity. 
The increase in activity comes as SoSoValue <a href="https://sosovalue.com/assets/etf/us-btc-spot" target="_blank" rel="">data</a> shows that 12 U.S.-based spot Bitcoin (<a href="https://crypto.news/price/bitcoin/" data-type="link" data-id="https://crypto.news/price/bitcoin/">BTC</a>) ETFs recorded $36.01 million in inflows on Aug. 16. That’s a 223% increase compared to Aug. 15, when net inflows were <a href="https://crypto.news/spot-bitcoin-etfs-witness-inflows-of-11-11m-ether-etfs-break-3-day-inflow-streak/" target="_blank" rel="noreferrer noopener">$11.11 million</a>. 
Other notable inflows included $13.4 million into ARK 21Shares’s ARKB, $12 million into Bitwise’s BITB, and a modest $1.7 million into Franklin Templeton’s EZBC. 
These gains helped offset a $72.9 million outflow from Grayscale’s GBTC, which has experienced total outflows of $19.64 billion since its inception. 
Grayscale’s Bitcoin Mini Trust ETF experienced no net outflows, maintaining its total net inflow since launch at $288 million. This stability in the mini trust contrasts with the <a href="https://crypto.news/blackrocks-ibit-flips-grayscales-gbtc-to-lead-us-spot-bitcoin-etfs/" target="_blank" rel="noreferrer noopener">struggles faced by the main Grayscale product</a>. 
The remaining four Bitcoin ETFs also remained neutral on Aug. 16 as the cryptocurrency market anticipated a correction. The cumulative spot BTC ETF inflows have now surpassed the $17.3 billion mark. 
Data from CoinGecko shows that the global crypto market capitalization declined by 0.3% in the past 24 hours, currently standing at $2.17 trillion. The total 24-hour trading volume also fell by 24%, hovering around $67.3 billion. 
Bitcoin rose by 2% over the past 24 hours, trading at $59,228 at the time of writing. 
 You might also like: <a href="https://crypto.news/spot-ether-etfs-continue-positive-flow-streak-bitcoin-etfs-witness-outflows/"> Spot Ether ETFs continue positive flow streak, Bitcoin ETFs witness outflows </a> 
<h2 class="wp-block-heading" id="ethereum-etfs-record-15m-in-outflows">Ethereum ETFs record $15m in outflows</h2> 
In contrast, the nine Ethereum ETFs collectively saw <a href="https://sosovalue.com/assets/etf/us-eth-spot" target="_blank" rel="">$15 million in outflows</a> on Aug. 16, marking the second consecutive day of outflows. 
Leading the outflows was Grayscale’s ETHE, with ongoing outflows of $27.7 million, contributing to a total outflow of $2.41 billion since its inception. VanEck also saw a $4.8 million withdrawal from its offering. 
Meanwhile, Fidelity’s FETH and BlackRock’s ETHA recorded inflows of $10.3 million and $7.2 million, respectively. The remaining five Ethereum ETFs saw no activity on the day. 
Trading volume for Ether ETFs dropped to $185 million, significantly lower than the previous day. These funds have experienced a cumulative net outflow of $420.11 million to date. 
Ethereum (<a href="https://crypto.news/price/ethereum/" target="_blank" rel="noreferrer noopener">ETH</a>) had risen by 0.9% over the past 24 hours, trading at $2,604 at the time of writing. 
 Read more: <a href="https://crypto.news/nyse-american-axes-bid-for-spot-bitcoin-etf-options/"> NYSE American axes bid for spot Bitcoin ETF options </a>

Spot Bitcoin ETF inflows jump 223% as crypto market corrects

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