On Tuesday, U.S. spot bitcoin exchange-traded funds (ETFs) experienced an inflow of $38.94 million, while spot ether ETFs attracted $24.34 million.
Blackrock’s Bitcoin and Ethereum Funds Dominate Tuesday’s ETF Inflows
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Tuesday’s Inflows Boost Spot Bitcoin and Ether ETFs
The positive momentum continued for spot bitcoin and ether ETFs on Tuesday, with both groups enjoying fresh inflows. Spot bitcoin ETFs raked in $38.94 million, led by Blackrock’s IBIT, which took the lion’s share with $34.55 million. Fidelity’s FBTC followed closely, collecting $22.56 million during the trading session. Bitwise’s BITB secured $16.54 million, according to stats from sosovalue.xyz.
However, not all funds were in the green. Grayscale’s GBTC saw a dip, shedding $28.65 million, while Ark Invest’s and 21shares’ ARKB lost $6.06 million. Grayscale’s Mini Bitcoin Trust, along with HODL, BRRR, BTCO, EZBC, BTCW, and DEFI, remained unchanged. The latest $38.94 million gain brings the cumulative net inflows for all 12 ETFs to $17.40 billion, with the ETFs holding $55.34 billion in BTC, equivalent to 4.63% of BTC’s market cap.
Ethereum funds also had a good day, pulling in $24.34 million, although slightly less than their bitcoin counterparts. Blackrock’s ETHA led the pack, adding $49.12 million, bringing its ether holdings to nearly $1 billion—just shy of that milestone. Fidelity’s FETH gained $5.41 million, while Invesco’s QETH added $813,690. The other funds had a neutral day, with no inflows or outflows.
Despite the gains, ETH ETFs remain in the red with a net outflow of $376.67 million since July 23. On Tuesday, $191.14 million was traded, and today, the nine ETH ETFs hold $7.65 billion in ETH, representing about 2.36% of ethereum’s market cap as of Aug. 14, 2024. Both BTC and ETH are on the rise in spot markets, with BTC up 3.73% and ETH up 3.61% in the past 24 hours.
What do you think about Tuesday’s ETF action? Share your thoughts and opinions about this subject in the comments section below.
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