Bitcoin and Ethereum ETFs See Second Consecutive Day of Increased Investments

Spot Bitcoin and Ethereum exchange-traded funds in the United States are experiencing positive inflows for the second consecutive day this week. SoSoValue data reveals that on Aug. 13, the 12 spot Bitcoin ETFs collectively received $38.94 million in inflows, marking a substantial nearly 40% increase from the $27.87 million recorded the day prior.

Leading the pack in inflows was BlackRock’s IBIT fund, which attracted $34.6 million, bringing its total inflows since inception to $20.36 billion. Notably, it was the sole Bitcoin ETF to witness inflows for two consecutive days. Additionally, Fidelity’s FBTC received $22.6 million in inflows, while Bitwise’s BITB saw $16.5 million flowing in. These gains helped offset a $28.6 million outflow from Grayscale’s GBTC, which has experienced total outflows of $19.49 billion since its launch. The remaining Bitcoin ETFs did not report any activity on that particular day.

Trading volumes for Bitcoin ETFs slightly dipped to $1.18 billion from $1.3 billion on Aug. 12. The cumulative net inflows into spot Bitcoin ETFs now stand at $17.4 billion.

On the other hand, the nine spot Ethereum ETFs observed a surge in investor interest, with net inflows totaling $24.3 million on Aug. 13, a significant rise from the modest $5 million recorded the previous day. SoSoValue data shows that BlackRock’s ETHA led the charge once again with $49.1 million in inflows after a day of no flows.

Fidelity’s FETH and Invesco Galaxy’s QETH also saw inflows of $5.4 million and $0.8 million, respectively. Notably, it was the first day of inflows for Invesco’s Ethereum ETF since its launch. However, Grayscale’s ETHE fund experienced an outflow of $31 million, bringing its total outflows to $2.32 billion since inception.

Despite the inflows, trading volume for Ethereum ETFs took a significant hit, dropping to $190.76 million. Overall, these funds have witnessed cumulative net outflows of $376.67 million to date.

As of the latest update, Bitcoin (BTC) was priced at $60,786, while Ethereum (ETH) stood at $2,726. Investors continue to closely monitor the trends and movements within the cryptocurrency market for potential opportunities and risks.