Ethereum

Jerome Powell

Bitcoin

Spot Bitcoin ETFs in the US saw an aggregate inflow of $202.6 million on Monday, Aug. 26, according to preliminary data from Farside Investors.
This marks the second-largest day of inflows for the month and the eighth consecutive day in green for the investment products.
Additionally, 12 of the past 14 trading days have seen positive flows for the <a href="https://cryptopotato.com/best-bitcoin-etf/" data-wpel-link="internal" rel="noopener noreferrer nofollow">spot Bitcoin ETFs</a> despite the underlying asset failing to move higher.
<h2 id="bitcoin-etfs-still-popular">Bitcoin ETFs Still Popular</h2>
The BlackRock iShares Bitcoin Trust (IBIT) led the pack with its largest daily inflow since July 22 with $224 million inflows.&nbsp;The Franklin Bitcoin ETF (EZBC) and the WisdomTree Bitcoin Fund (BTCW) were the only other two funds to see net inflows of $5.5 million and $5.1 million, respectively.
ETFs from Fidelity, Bitwise, and VanEck had a total net outflow of $32 million together. Meanwhile, Grayscale’s two ETFs, GBTC and BTC, had net zero flows for the day.
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">
 Bitcoin ETF Flow (US$ million) – 2024-08-26
 TOTAL NET FLOW: 202.6
 IBIT: 224.1 FBTC: -8.3 BITB: -16.6 ARKB: 0 BTCO: 0 EZBC: 5.5 BRRR: 0 HODL: -7.2 BTCW: 5.1 GBTC: 0 BTC: 0
 For all the data &amp; disclaimers visit:<a href="https://t.co/Wg6Qpn0Pqw" data-wpel-link="external" target="_blank" rel="noopener noreferrer nofollow">https://t.co/Wg6Qpn0Pqw</a>
 — Farside Investors (@FarsideUK) <a href="https://twitter.com/FarsideUK/status/1828278073994670437?ref_src=twsrc%5Etfw" data-wpel-link="external" target="_blank" rel="noopener noreferrer nofollow">August 27, 2024</a>
</blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
The inflows came amid a 6.5% BTC rally as prices reached $65,150 over the weekend and Monday before starting to retreat earlier today.
Institutional inflows for global crypto products have also turned positive. Asset manager CoinShares <a href="https://cryptopotato.com/bitcoin-leads-with-543m-in-inflows-amid-powells-jackson-hole-comments/" data-wpel-link="internal" rel="noopener noreferrer nofollow">reported</a> that digital asset investment products saw weekly inflows worth $533 million last week.
The moves were catalyzed by a dovish pivot by the US central bank, with Federal Reserve Chair Jerome Powell <a href="https://cryptopotato.com/4-things-that-could-ignite-crypto-markets-in-the-week-ahead/" data-wpel-link="internal" rel="noopener noreferrer nofollow">almost confirming</a> that the first interest rate cut since March 2020 will likely occur in September.
<h2 id="ethereum-etf-exodus-continues">Ethereum ETF Exodus Continues</h2>
Nevertheless, the same bullishness cannot be seen with US spot Ethereum ETFs, which saw their <a href="https://cryptopotato.com/etf-weekly-recap-only-inflows-for-bitcoin-but-ethereum-products-register-longest-outflow-streak/" data-wpel-link="internal" rel="noopener noreferrer nofollow">eighth consecutive day of outflows</a> on Monday.
Around $13.2 million exited Ethereum ETFs, with the majority leaving Grayscale’s ETHE fund. Fidelity and Franklin also saw minor outflows, with the rest registering zero flows for the day.
Grayscale has shed $2.5 billion in assets under management from its ETHE fund, but this was expected, and the outflows are unlikely to be over just yet.
The continued exodus comes despite ETH prices recovering to their highest levels since the Aug. 5 crash, which occurred over the weekend at $2,800.&nbsp;However, the asset has since retreated again, falling 1.8% on the day to $2,685 at the time of writing.
The post <a href="https://cryptopotato.com/bitcoin-etfs-still-seeing-solid-inflows-as-ethereum-etf-exodus-continues/" rel="noopener noreferrer nofollow">Bitcoin ETFs Still Seeing Solid Inflows as Ethereum ETF Exodus Continues</a> appeared first on <a href="https://cryptopotato.com/" rel="noopener noreferrer nofollow">CryptoPotato</a>.

Bitcoin ETFs Still Seeing Solid Inflows as Ethereum ETF Exodus Continues

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