Spot Bitcoin and Ethereum ETFs record second day of joint inflows streak

08/14/2024 15:37
Spot Bitcoin and Ethereum ETFs record second day of joint inflows streak

Spot Bitcoin and Ethereum exchange-traded funds in the United States experienced their second consecutive day of positive inflows on Aug. 13

Spot Bitcoin and Ethereum ETFs record second day of joint inflows streak

Spot Bitcoin and Ethereum exchange-traded funds in the United States continue their streak with a second consecutive day of positive inflows this week.

According to data from SoSoValue, the 12 spot Bitcoin ETFs recorded a total inflow of $38.94 million on Aug. 13, representing a nearly 40% increase from the $27.87 million recorded the previous day.

BlackRock’s IBIT fund led with $34.6 million in inflows, bringing its total since launch to $20.36 billion. It was the only Bitcoin ETF to see inflows for two consecutive days.

Other notable inflows included $22.6 million into Fidelity’s FBTC and $16.5 million into Bitwise’s BITB. These gains helped to counterbalance a $28.6 million outflow from Grayscale’s GBTC, which has seen total outflows of $19.49 billion since its inception.

The remaining Bitcoin ETFs did not record any activity on that day.

Trading volumes for Bitcoin ETFs were slightly lower at $1.18 billion, down from $1.3 billion on Aug. 12. The cumulative net inflows into spot Bitcoin ETFs stood at $17.4 billion.

In contrast, the nine spot Ethereum ETFs saw a significant uptick in investor interest, with net inflows reaching $24.3 million on Aug. 13, a notable increase from the modest $5 million recorded the previous day.

According to data from SoSoValue, BlackRock’s ETHA led the charge once again, with $49.1 million in inflows following a day of no flows.

Fidelity’s FETH and Invesco Galaxy’s QETH also saw inflows of $5.4 million and $0.8 million, respectively. This was the first day of inflows for Invesco’s Ethereum ETF since its launch.

Grayscale’s ETHE fund saw an outflow of $31 million, bringing its total outflows to $2.32 billion since launch.

Despite the inflows, the trading volume for Ethereum ETFs dropped significantly to $190.76 million. Overall, these funds have experienced cumulative net outflows of $376.67 million to date.

At the time of writing, Bitcoin (BTC) was exchanging hands at $60,786, while Ethereum (ETH) stood at $2,726.

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