US spot Bitcoin ETFs have recorded higher inflows as the broader crypto market revives, amassing $192 million in net inflow on Thursday.
BlackRock’s IBIT led the inflows with approximately $157.6 million, while Grayscale’s GBTC saw a moderately large net outflow. While the BTC ETFs gained, US spot Ether ETFs saw outflows of $2.87 million on August 8.
Meanwhile, Bitcoin and Ethereum have slightly recovered from their multi-month lows on August 5, currently trading around $60,300 and $3,600, respectively.
Spot Bitcoin ETFs See a Net Inflow of $192 Million in A Day
According to data from SoSovalue, the US spot Bitcoin ETFs accumulated a net inflow of $192.56 million on Thursday, August 8. The massive inflows came as the broader crypto market showed signs of recovery after a drastic slump.
Cumulatively, five of the eleven Bitcoin ETFs witnessed significant net inflows on Thursday, with BlackRock’s IBIT as the top performer with about $157.6 million in inflows.
WisdomTree’s BTCW performed remarkably well, closely trailing IBIT with $118.52 million in inflows, marking its largest inflow since launch. BTCW’s Thursday net inflows represent a ten-fold increase from Wednesday’s inflow of $10.5 million, its previous record high.
Further, Fidelity’s fund, FBTC, followed closely with a total inflow of $65.25 million, while Ark Invest and 21Shares’ ARKB amassed $32.79 million. VanEck’s HODL also recorded positive flows, with $3.38 million in inflow.
Conversely, Graysclale’s GBTC stood out as the fund with the most significant outflows for the day, amounting to $182.94 million. So, GBTC’s net outflow cut down the ETFs’ overall asset influx to $192.56 billion for the day.
The cumulative trade volume for the spot Bitcoin ETFs hit $2 billion on Thursday, against $1.79 billion the previous day. As of August 8, the US spot Bitcoin ETFs have recorded a net inflow of $17.43 billion.
Spot Ether ETFs Still Loss As Ethereum Underperforms Against Bitcoin
On August 8, the US spot Ethereum ETFs recorded nearly equal inflows and outflows. The ETH ETFs recorded a net outflow of $2.87 million and net outflows of $2.78.
The most outflow came from Grayscale’s ETHE, which amounted to $19.8 million, while Fidelity’s FETH saw a net outflow of $2.58 million.
Again, BlackRock’s ETHA fund received the most net inflow, $11.74 million, while Graysclale’s mini Ethereum Trust followed closely with $5 million in inflows.
In addition, Ethereum ETFs’ trade volume on Thursday amounted to $338.49 million, with a total outflow of $390.23 million since their launch.
Meanwhile, Bitcoin and Ethereum have rebounded slightly following recent broader market struggles. Investor sentiments have somewhat improved, with the Fear and Greed Index reading 56/100, denoting neutral after extreme fear on August 5.
The cumulative crypto market recorded more than a 5% surge over the past day to reach $2.12 trillion. Bitcoin trades at $60,693, indicating a 5.9% increase over the past day. Ether’s price currently hovers around $2.639, with a 7.97% surge over the past day, while its market cap sits at $317.46 billion.
Disclaimer: The opinions expressed in this article do not constitute financial advice. We encourage readers to conduct their own research and determine their own risk tolerance before making any financial decisions. Cryptocurrency is a highly volatile, high-risk asset class.
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