Bitcoin ETF

Bitcoin

BlackRock

The global digital assets market witnessed a week of heavy fluctuations as the biggest cryptos, Bitcoin (BTC) and Ether (ETH), recovered from the recent slump. US-based crypto spot exchange-traded fund (ETF) showed a mix of sentiments as Bitcoin ETF registered over $32 million in inflow, while Ether ETF saw a $14 million dip. 
BlackRock has overtaken Grayscale, now managing $22 billion in Bitcoin and Ethereum ETFs compared to Grayscale’s $20.7 billion. This shift gained momentum after <a href="https://www.cryptopolitan.com/blackrock-seek-approval-options-trading/">BlackRock</a> launched Ethereum ETFs on July 23, which saw massive inflows. 
<h3 id="span-style-font-weight-400-bitcoin-etfs-see-32-million-of-weekly-inflow-span">Bitcoin ETFs see $32 million of weekly inflow</h3> 
As per the data from <a href="https://sosovalue.com/assets/etf/us-btc-spot" rel="nofollow noopener" target="_blank">SoSoValue</a>, Bitcoin spot ETFs had a net inflow of $32.58 million last week. Fidelity’s FBTC had a net inflow of $82.11 million, and BlackRock’s IBIT had a net inflow of $71.07 million. Meanwhile, Grayscale ETF GBTC had a net outflow of $195 million. 
BTC ETFs printed green weekly index depicting investors’ confidence getting back to the market. In the prior two weeks, the investment funds bled $169 million and $80 million, respectively, which is directly reflected in the BTC’s performance. 
Bitcoin saw a marginal surge in the last 7 days after dealing with heavy selling pressure, which resulted in a 9% and 11% decline over the past 30 days and 60 days, respectively. BTC is trading at an average price of $58,566, at the press time. 
<figure id="attachment_570312" aria-describedby="caption-attachment-570312" style="width: 100%" class="wp-caption aligncenter">
 <img decoding="async" class="wp-image-570312 " src="https://www.cryptopolitan.com/wp-content/uploads/2024/08/Bitcoin-etf-flow.jpg" alt="" width="631" height="335" srcset="https://www.cryptopolitan.com/wp-content/uploads/2024/08/Bitcoin-etf-flow.jpg 556w, https://www.cryptopolitan.com/wp-content/uploads/2024/08/Bitcoin-etf-flow-300x159.jpg 300w" sizes="(max-width: 631px) 100vw, 631px">
 <figcaption id="caption-attachment-570312" class="wp-caption-text">
 Source: SoSoValue
 </figcaption>
</figure> 
The competition remains fierce, with <a href="https://www.cryptopolitan.com/sec-approves-grayscale-bitcoin-mini-etf/">Grayscale’s GBTC</a> managing $18.7 billion, just $1.5 billion ahead of BlackRock’s iShares Bitcoin Trust (IBIT) at $17.2 billion. The continuous outflows from Grayscale are closing the gap. 
<h3 id="span-style-font-weight-400-eth-etfs-deal-with-dump-span">ETH ETFs deal with dump</h3> 
Ether linked ETFs reveal different sets of emotions running among investors as they printed a red weekly index. It recorded a net outflow of $14.16 million last week. This comes in after the big week of $104 million inflow seen amid the high selling pressure. 
BlackRock’s ETHA had a net inflow of $76.35 million, and Fidelity’s FETH saw a positive flow of $25.79 million. Grayscale’s ETHE had a net outflow of $118 million. Grayscale has posted a cumulative outflow of $2.41 billion, till now. 
The second biggest crypto, ETH, surged by around 4% in the last 7 days despite the sell-off seen in the ETFs market. The recovery comes in after registering a drop of 23% and 26% in the past 30 days and 60 days, respectively. ETH is trading at an average price of $2,628, at the press time.

Bitcoin ETFs hit weekly green while Ether ETFs suffers

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