Key Points
- Spot Bitcoin ETFs saw a positive start to the week, recording $61.98 million in inflows.
- Spot Ether ETFs experienced a third day of negative flows, with $13.52 million in outflows.
Spot Bitcoin ETFs began the week on an upbeat note, while spot Ether ETFs experienced a third consecutive day of negative flows.
Data from SoSoValue reveals that the 12 spot Bitcoin ETFs in the U.S. saw inflows of $61.98 million on Aug. 19. This represents a 72% increase compared to the net inflows of $36.01 million on the same day.
Spot Bitcoin ETFs Inflows
BlackRock’s IBIT led the inflows with $92.7 million, taking its total inflows since inception to $20.48 billion. Fidelity’s FBTC followed with inflows of $3.9 million. These were the only funds to record back-to-back days of inflows.
Bitwise’s BITB and Invesco Galaxy’s BTCO saw net outflows of $25.7 million and $8.8 million, respectively. These outflows offset some of the gains these investment vehicles made on Aug. 19. Grayscale’s GBTC did not record any flows on the day, a first since its launch. This investment product has seen consistent outflows, totaling $19.64 billion since it began.
The other seven Bitcoin ETFs remained neutral as the cryptocurrency market anticipated a correction. The total spot Bitcoin ETF inflows have now surpassed the $17.4 billion mark.
The global crypto market capitalization increased by 2.4% in the past 24 hours, standing at $2.24 trillion. The total 24-hour trading volume also surged, around $79.5 billion. Bitcoin (BTC) rose by 4.2% over the past 24 hours, trading at $60,937 at the time of writing.
Ethereum ETFs Experience Outflows
In contrast, the nine Ethereum ETFs collectively experienced $13.52 million in outflows on Aug. 19. This marks the third consecutive trading day of outflows.
Grayscale’s ETHE led the outflows with ongoing outflows of $20.3 million, contributing to a total outflow of $2.43 billion since its launch. 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 fell 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. At the time of writing, Ethereum (ETH) had risen by 2.3%, trading at $2,673.
