Bitcoin ETFs gain $39.4M inflows as Ether ETFs face continued outflows

Spot Bitcoin (CRYPTO:BTC) ETFs experienced $39.4 million in inflows on August 21, marking the third consecutive day of positive flow for these funds.

Data from SoSoValue reveals that 12 spot Bitcoin ETFs accumulated $39.42 million in net inflows, although this figure represents a 55% decrease from the $88.06 million inflows reported on August 20.

Grayscale’s mini Bitcoin trust led with inflows of $14.2 million, resuming activity after a three-day hiatus.

Fidelity’s FBTC and Bitwise’s BITB followed, receiving $10.7 million and $10 million, respectively.

BlackRock’s IBIT, the largest spot Bitcoin ETF by net assets, garnered $8.4 million in inflows, pushing its total to $20.5 billion.

Other funds, like Invesco Galaxy’s BTCO and Franklin Templeton’s EZBC, reported smaller inflows of $2.5 million and $3.5 million.

Despite these gains, Grayscale’s GBTC saw outflows of $9.8 million, increasing its total outflows to $19.6 billion since inception.

The total trading volume for BTC ETFs rose to $1.42 billion on August 21, up from $1.35 billion the previous day.

Institutional investors, including Goldman Sachs and Morgan Stanley, significantly contribute to Bitcoin ETF adoption, with institutional ownership rising to 24% by the end of Q2 2024.

In contrast, spot Ether (CRYPTO:ETH) ETFs recorded $17.97 million in outflows on August 21, extending their negative flow streak to five days.

Grayscale’s ETHE led the outflows with $31.1 million, bringing its cumulative outflows to $2.5 billion since its launch on July 23.

Fidelity’s FETH, Grayscale’s ETH, and Franklin Templeton’s EZET were among the few to see inflows, totaling $7.9 million, $4.2 million, and $1 million, respectively.

The total trading volume for Ether ETFs increased slightly to $201.03 million on August 21.

At the time of reporting, the Bitcoin price was $60,785.76 and the Ethereum price was $2,641.95.