Bitcoin ETF

Bitcoin

Spot

Spot Bitcoin ETFs have seen their third consecutive inflow day this week, while spot Ether ETFs saw net outflows, adding to their five-day negative flow streak. 
According to <a href="https://sosovalue.com/assets/etf/us-btc-spot" target="_blank" rel="">data</a> from SoSoValue, the 12 spot Bitcoin exchange-traded funds recorded $39.42 million in net inflows on Aug. 21, representing a 55% decline compared to the <a href="https://crypto.news/spot-bitcoin-etfs-net-88m-in-inflows-spot-ether-etfs-outflows-see-slowdown/" target="_blank" rel="noreferrer noopener">$88.06 million</a> net inflows seen on Aug. 20. 
Grayscale’s mini Bitcoin trust led the charge with reported inflows of $14.2 million following three days of no activity. Fidelity’s FBTC and Bitwise’s BITB followed next with inflows of $10.7 million and $10 million, respectively. 
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 Spot Bitcoin ETF inflows/outflows as of Aug. 21 | Source: <a href="https://sosovalue.com/assets/etf/us-btc-spot" target="_blank" rel="">SoSoValue</a>
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BlackRock’s IBIT, the largest spot Bitcoin ETF by net assets, received $8.4 million in inflows on the day, bringing its total inflows to date to $20.5 billion. Meanwhile, Invesco Galaxy’s BTCO and Franklin Templeton’s EZBC reported more modest inflows of $2.5 million and $ 3.5 million respectively. 
These inflows were offset by Grayscale’s GBTC, which logged outflows of $9.8 million, bringing its total outflows from its launch date to $19.6 billion. The remaining five BTC ETFs remained neutral. 
Trading volume for BTC ETFs jumped to $1.42 billion on Aug. 21, higher than the $1.35 billion seen on Aug. 20. These funds have recorded a cumulative net inflow of $17.56 billion since inception. At the time of writing, Bitcoin (<a href="https://crypto.news/price/bitcoin/">BT</a><a href="https://crypto.news/price/bitcoin/" target="_blank" rel="noreferrer noopener">C</a>) was up 1.8% over the past day, trading at $60,788, per data from crypto.news. 
Bitwise CIO Matt Hougan <a href="https://crypto.news/bitwise-cio-bitcoin-etfs-breaking-records-gaining-unprecedented-institutional-traction/" target="_blank" rel="noreferrer noopener">has highlighted</a> that contrary to the common belief that retail investors are behind the rise in Bitcoin ETF adoption, data indicates a significant contribution from institutional investors. 
By the end of Q2 2024, institutional ownership of U.S. spot Bitcoin ETFs <a href="https://crypto.news/analyst-institutional-ownership-of-bitcoin-etfs-reached-24-last-quarter/" target="_blank" rel="noreferrer noopener">increased to 24%</a>, even amid a difficult market and falling Bitcoin prices. Major players like Goldman Sachs and Morgan Stanley are holding $412 million and $188 million in ETF shares. 
 You might also like: <a href="https://crypto.news/analyst-institutional-ownership-of-bitcoin-etfs-reached-24-last-quarter/"> Analyst: Institutional ownership of Bitcoin ETFs reached 24% last quarter </a> 
Meanwhile, the nine-spot Ethereum ETFs collectively saw increased outflows of <a href="https://sosovalue.com/assets/etf/us-eth-spot" target="_blank" rel="">$17.97 million</a> on Aug. 21, marking the fifth consecutive day of outflows. 
Grayscale’s ETHE led the outflows once again, with $31.1 million leaving the fund, bringing its total outflows to the $2.5 billion mark since its launch on July 23. Meanwhile, Fidelity’s FETH, Grayscale’s ETH, and Franklin Templeton’s EZET were the only offerings to record inflows of $7.9 million, $4.2 million, and $1 million, respectively. The remaining five ETH ETFs saw no flows on the day. 
These investment vehicles have seen their daily trading volume rise to $201.03 million on Aug. 21, a minor jump over the previous day. The spot Ether ETFs have experienced a cumulative net outflow of $458.08 million to date. At the time of publication, Ethereum (<a href="https://crypto.news/price/ethereum/" target="_blank" rel="noreferrer noopener">ETH</a>) was also up by 1.3%, exchanging hands at $2,633. 
 Read more: <a href="https://crypto.news/spot-bitcoin-etfs-log-62m-in-inflows-ether-etfs-continue-3-day-outflow-streak/"> Spot Bitcoin ETFs log $62m in inflows, Ether ETFs continue 3-day outflow streak </a>

Bitcoin ETFs attract $39.4m in inflows as Ether ETFs struggle with fifth consecutive day of outflows

crypto.news

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