On Tuesday, U.S. spot bitcoin exchange-traded funds (ETFs) saw inflows of $88.06 million, while ether ETFs experienced outflows totaling $6.49 million. Blackrock’s IBIT and ETHA led the charge, capturing the largest inflows of the day.
Inflows and Outflows: Bitcoin ETFs Gain $88M, Ether Drops $6.49M
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Blackrock’s Bitcoin and Ether ETFs Lead the Day in Inflows
Data from sosovalue.xyz reveals that spot bitcoin ETFs hauled in $88.06 million on Tuesday, with Blackrock’s IBIT emerging as the top performer, securing $55.43 million. Following closely, Ark Invest’s and 21shares’ ARKB fund added $51.91 million to its coffers.
However, Grayscale’s GBTC struggled, registering $12.81 million in net outflows. Bitwise’s BITB also faced a downturn, shedding $6.47 million, while the remaining eight funds ended the day without any notable gains or losses.
The $88.06 million boost brought the total net inflows since Jan. 11 to $17.52 billion, with the 12 funds now collectively holding $54.25 billion in BTC as of Aug. 21, 2024. This substantial reserve represents 4.63% of bitcoin’s entire market value.
On the ethereum side, Blackrock’s ETHA led the pack with a gain of $26.77 million, trailed by Bitwise’s ETHW, which absorbed $3.73 million. Conversely, Grayscale’s ETHE faced a significant setback, losing $36.99 million during Tuesday’s trading.
The remaining U.S.-based ether funds stayed flat, with no gains or losses. The $6.49 million in outflows has pushed the nine ETF’s net outflows to $440.11 million to date.
Tuesday’s trade volume for the nine ETH ETFs hit $194.66 million. Collectively, these funds hold $7.27 billion worth of ethereum ( ETH), accounting for 2.33% of ETH’s total market cap as of Aug. 21.
What do you think about the spot bitcoin and spot ether ETF action on Tuesday? Share your thoughts and opinions about this subject in the comments section below.
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