Increase in Bitcoin ETFs, Decrease in Ether ETFs!
Spot Bitcoin ETFs continue to see net inflows for the past six days, while spot Ether ETFs are contributing to a six-day streak of net outflows. This shows that while investors' interest in Bitcoin is increasing, their interest in Ethereum is decreasing.
According to SoSoValue data, 12 spot Bitcoin exchange-traded funds (ETFs) generated a total of $64.91 million in net inflows on August 22. This represents a 65% increase compared to the net inflow of $39.42 million on the previous day, August 21. This increase shows that Bitcoin is more preferred by investors and the demand for these funds is increasing.
BlackRock’s IBIT stands out as the largest spot Bitcoin ETF by net assets. This ETF reported a net inflow of $75.5 million, bringing its total net inflow to $20.6 billion.
Among other large funds, Fidelity’s FBTC and ARK 21Shares’ ARKB generated net inflows of $9.2 million and $7.8 million, respectively. These funds show that there is a wide range of investment interest in Bitcoin and the continued confidence of major investors in this asset.
On the other hand, WisdomTree’s BTCW and VanEck’s HODL recorded net inflows of $4.8 million and $3.4 million, respectively, after the 9-day pause. This signals a resurgence of investor interest in some ETFs.
However, Grayscale’s GBTC reported net outflow of $28.4 million, bringing the total outflow as of launch to $19.69 billion. Although Grayscale’s mini Bitcoin trust ETF generated a net inflow of $4 million, Bitwise’s BITB experienced a net outflow of $11.5 million. The other four BTC ETFs did not show any significant changes and remained neutral.
Trading volume of BTC ETFs dropped to $899.6 million on August 22. This represents a significant decrease compared to the $1.42 billion in trading volume on the previous day, August 21. These funds have recorded a total net inflow of $17.62 billion since their establishment. At the time of publication, Bitcoin was trading at $61,058, up 0.3% in the last 24 hours.
Ethereum ETFs follow a different trend. Nine spot Ethereum ETFs experienced a combined net outflow of $874,610 on August 22, marking the continuation of a six-day streak of negative flows. Grayscale’s ETHE stood out with a net outflow of $19.8 million, bringing its total outflow to $2.52 billion since launch.
Fidelity’s FETH, Grayscale’s ETH and VanEck’s ETHV provided net inflows of $14.3 million, $3.7 million and $1 million, respectively. The other five ETH ETFs did not show any flows throughout the day.
Daily trading volume of these investment instruments fell to $93.8 million on August 22, representing a large decrease from the previous day. Spot Ether ETFs have experienced a total net outflow of $458.95 million so far. At the time of publication, Ethereum was trading at $2,669, up 1.4%.
This data reveals that Ethereum ETFs are less preferred among investors and how the current situation affects market dynamics.