Bitcoin and Ethereum ETFs Update:
Spot Bitcoin exchange-traded funds in the United States had a strong start to the week, with net inflows surpassing those of Ethereum ETFs by over five times. SoSoValue data shows that 12 spot Bitcoin ETFs saw inflows of $27.87 million on Aug. 12, a notable change from the $45.14 million outflows recorded on Aug. 9. Among them, ARK 21Shares’s ARKB led with $35.4 million in inflows, while BlackRock’s IBIT followed with $13.4 million, the only one to have two consecutive days of inflows. Grayscale’s Bitcoin mini trust fund had the lowest inflows at $79 million.
Ethereum ETFs Performance:
On the same day, nine spot Ethereum ETFs experienced smaller net inflows totaling $4.93 million, ending a streak of three days of net outflows. Fidelity’s FETH led the way with $4 million in inflows, followed by Bitwise’s ETHW and Franklin Templeton’s EZET with $2.9 million and $1 million, respectively. VanEck’s ETHV recorded its first day of outflows since launch, with $2.9 million flowing out. Trading volume for these Ether ETFs surged to $285.96 million, as cumulative net outflows reached $401.01 million.
Market Overview:
Overall, the trading volume for these ETFs saw significant activity, with Bitcoin trading at $59,105 and Ethereum at $2,641 at the time of writing. The cumulative net inflows into spot Bitcoin ETFs stood at $17.37 billion, while Ethereum ETFs faced net outflows of $401.01 million. These figures highlight the ongoing interest and dynamics within the cryptocurrency ETF market.
