Spot Bitcoin ETFs log $62m in inflows, Ether ETFs continue 3-day outflow streak

Spot Bitcoin ETFs have started this week on a positive note, while spot Ether ETFs continued their third consecutive trading day of negative flows.

Data from SoSoValue shows that the 12 spot Bitcoin exchange-traded funds in the U.S. recorded $61.98 million in inflows on Aug. 19, representing a 72% increase compared to the net inflows of $36.01 million on the same day.

BlackRock’s IBIT led the lot with $92.7 million, bringing its total inflows since launch to $20.48 billion. Fidelity’s FBTC followed with modest inflows of $3.9 million. These funds were the only ones to record a second consecutive day of inflows.

Spot Bitcoin ETFs log $62m in inflows, Ether ETFs continue 3-day outflow streak - 1 — Market data on inflows/outflows for spot Bitcoin ETFs as of Aug. 19 | Source: SoSoValue

Bitwise’s BITB and Invesco Galaxy’s BTCO recorded net outflows of $25.7 million and $8.8 million, respectively, offsetting part of the gains seen by these investment vehicles on Aug. 19. Grayscale’s GBTC saw no flows on the day, marking the first day this has occurred since its launch. The investment product has been recording continuous outflows, totaling $19.64 billion since its inception.

The remaining seven Bitcoin ETFs also remained neutral as the cryptocurrency market anticipated a correction. The cumulative spot BTC ETF inflows have now surpassed the $17.4 billion mark.

Data from crypto.news shows that the global crypto market capitalization jumped by 2.4% in the past 24 hours, currently standing at $2.24 trillion. The total 24-hour trading volume also surged, hovering around $79.5 billion. Bitcoin (BTC) rose by 4.2% over the past 24 hours, trading at $60,937 at the time of writing.

Ether ETFs record $13.5m in outflows

In contrast, the nine Ethereum ETFs collectively saw $13.52 million in outflows on Aug. 19, marking the third consecutive trading day of outflows.

Leading the outflows was Grayscale’s ETHE, with ongoing outflows of $20.3 million, contributing to a total outflow of $2.43 billion since its inception. Meanwhile, Grayscale Bitcoin Mini Trust and Bitwise’s ETHW were the only offerings to record modest inflows of $4.9 million and $1.9 million on the day. The remaining six Ethereum ETFs saw no activity on the day.

Trading volume for Ether ETFs dropped to $124 million, significantly lower than the $185 million seen the previous trading day. These funds have experienced a cumulative net outflow of $433.62 million to date. As of press time, Ethereum (ETH) soared by 2.3%, trading at $2,673.