Positive Inflows for Bitcoin and Ethereum ETFs in the U.S.

On August 1, spot Bitcoin and Ethereum exchange-traded funds (ETFs) in the United States experienced joint positive inflows for the first time since the launch of nine spot Ether ETFs on July 23. According to data from Farside Investors, the 11 spot Bitcoin ETFs recorded a net inflow of approximately $50.6 million.

Grayscale’s newly launched Grayscale Bitcoin Mini Trust led the way with an impressive $191.1 million in inflows. BlackRock’s IBIT followed, recording an inflow of $25.9 million, marking its third consecutive month without any outflows. In contrast, Grayscale’s GBTC saw the most significant net outflows among competing products, with $71.3 million leaving the fund. Other notable outflows included Fidelity’s FBTC with $48.4 million, Ark and 21Shares’ ARKB with $22.4 million, Bitwise BITB with $20.7 million, and VanEck’s HODL with $3.6 million. The remaining Bitcoin ETFs remained neutral.

SoSoValue data indicated that the total daily trading volume for these spot Bitcoin ETFs on August 1 was $2.91 billion, significantly higher than the $1.37 billion recorded on July 30 and July 31.

Ethereum ETFs Also See Positive Inflows

Ethereum ETFs also showed positive inflows on August 1, with a net inflow of $26.7 million. BlackRock’s iShares Ethereum Trust led the way with an $89.6 million inflow, according to Farside Investors data. Despite this, Grayscale’s Ethereum Trust (ETHE) experienced cumulative outflows exceeding $1 billion (i.e., $2 Billion now), with $78 million in outflows on the same day.

ETHE, originally a trust offering institutional investors exposure to Ethereum, was converted to a spot ETF on July 23. Prior to its conversion, ETHE held $9 billion in Ethereum, with recent outflows suggesting that 22% of the initial fund had been sold.

Meanwhile, Fidelity’s FETH and Bitwise’s ETHW logged inflows of $11.7 million and $3.4 million, respectively. The remaining Ethereum ETFs did not experience any flows on that day.

These inflows highlight growing investor confidence in Bitcoin and Ethereum ETFs. The substantial inflows into Grayscale’s Bitcoin Mini Trust and BlackRock’s iShares Ethereum Trust underscore the increasing interest in cryptocurrency investments. As regulatory frameworks evolve, these ETFs are likely to play a crucial role in mainstream adoption of digital assets.

Overall, the positive net inflows for both Bitcoin and Ethereum ETFs on August 1 signify a robust market interest, potentially paving the way for more significant developments in the cryptocurrency investment landscape.