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    Home » Spot Bitcoin ETFs See Eighth Day of Inflows, Led by BlackRock’s $224 Million
    Bitcoin

    Spot Bitcoin ETFs See Eighth Day of Inflows, Led by BlackRock’s $224 Million

    Andrei IonescuBy Andrei IonescuTuesday, 27 August 2024, 11:05No Comments2 Mins Read

    Spot bitcoin exchange-traded funds (ETFs) in the U.S. recorded $202.51 million in net inflows on Monday, marking the eighth consecutive day of positive momentum. The 12 bitcoin funds have attracted a combined $756 million over the past eight trading days.

    BlackRock’s IBIT fund led Monday’s inflows with $224.06 million, the fund’s largest single-day inflow since July 22, according to data from SoSoValue. Other notable inflows included $5.52 million into Franklin Templeton’s EZBC and $5 million into WisdomTree’s BTCW.

    However, not all funds saw gains. Bitwise’s BITB fund experienced net outflows of $16.61 million, the largest outflows of the day, followed by $8.33 million from Fidelity’s FBTC and $7.18 million from VanEck’s HODL. Six funds, including Grayscale’s GBTC, reported zero inflows or outflows on Monday.

    After spiking to $3.12 billion last Friday, trading volume across spot bitcoin ETFs dropped back to $1.2 billion on Monday, reflecting more typical levels. Since their launch in January, these funds have accumulated $18.08 billion in total net inflows.

    Ether ETFs Continue to Struggle with Outflows

    While bitcoin ETFs continue to see inflows, U.S. spot ether funds remain in decline, logging their eighth consecutive day of outflows.

    On Monday, ether ETFs recorded $13.23 million in net outflows, driven by $9.52 million from Grayscale’s ETHE. Fidelity’s FETH saw outflows of $2.69 million, and Franklin Templeton reported $1.02 million in outflows. No spot ether ETFs posted positive inflows for the day.

    Spot ether ETFs recorded $125.73 million in trading volume on Monday, bringing their total net outflows to $477.88 million since launch.

    READ  Polymarket Sees $1.4 Million Bet on Federal Interest Rate Cut Following Market Crash

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    Andrei Ionescu

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