Bitcoin ETF

Bitcoin

Spot

Spot Bitcoin ETFs have seen their sixth consecutive day of net inflows, while spot Ether ETFs continue to net outflows, adding to their six-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 $64.91 million in net inflows on Aug. 22, representing a jump of 65% compared to the <a href="https://crypto.news/bitcoin-etfs-attract-39-4m-in-inflows-as-ether-etfs-struggle-with-fifth-consecutive-day-of-outflows/" target="_blank" rel="noreferrer noopener">$39.42 million net inflows</a> seen on Aug. 21. 
BlackRock’s IBIT, the largest spot Bitcoin ETF by net assets, led the charge with reported inflows of $75.5 million, bringing its total inflows to date to $20.6 billion. Fidelity’s FBTC and ARK 21Shares’s ARKB followed next with inflows of $9.2 million and $7.8 million, respectively. 
Meanwhile, WisdomTree’s BTCW and VanEck’s HODL reported more modest inflows of $4.8 and $3.4 million respectively following 9 days of no activity. 
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 Spot Bitcoin ETFs inflow/outflow | Source: <a href="https://sosovalue.com/assets/etf/us-btc-spot" target="_blank" rel="">SoSoValue</a>
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These inflows were offset by Grayscale’s GBTC, which logged outflows of $28.4 million, bringing its total outflows from its launch date to $19.69 billion. However, the crypto asset manager’s mini Bitcoin trust ETF drew $4 million in inflows. <a href="https://crypto.news/tag/bitwise/" target="_blank" rel="noreferrer noopener">Bitwise</a>’s BITB also reported $11.5 million in outflows. The remaining four BTC ETFs remained neutral. 
Trading volume for BTC ETFs dropped to $899.6 million on Aug. 22, significantly lower than the $1.42 billion seen on Aug. 21. These funds have recorded a cumulative net inflow of $17.62 billion since inception. At the time of writing, Bitcoin (<a href="https://crypto.news/price/bitcoin/" target="_blank" rel="noreferrer noopener">BTC</a>) was up 0.3% over the past day, trading at $61,058, per data from crypto.news. 
 You might also like: <a href="https://crypto.news/bitwise-cio-bitcoin-etfs-breaking-records-gaining-unprecedented-institutional-traction/"> Bitwise CIO: Bitcoin ETFs breaking records, gaining unprecedented institutional traction </a> 
Meanwhile, the nine-spot Ethereum ETFs collectively saw a major drop in outflows, which stood at <a href="https://sosovalue.com/assets/etf/us-eth-spot" target="_blank" rel="">$874,610</a> on Aug. 22, marking the sixth consecutive day of outflows. 
Grayscale’s ETHE led the outflows once again, with $19.8 million leaving the fund, bringing its total outflows to the $2.52 billion mark since its launch on July 23. Meanwhile, Fidelity’s FETH, Grayscale’s ETH, and VanEck’s ETHV were the only offerings to record inflows of $14.3 million, $3.7 million, and $1 million, respectively. The remaining five ETH ETFs saw no flows on the day. 
These investment vehicles have also seen their daily trading volume drop to $93.8 million on Aug. 22, a major drop over the previous day. The spot Ether ETFs have experienced a cumulative net outflow of $458.95 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 1.4%, exchanging hands at $2,669. 
 Read more: <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>

Spot Bitcoin ETFs see inflows of $64.8m, Ether ETFs outflows drop to $874k

crypto.news

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