Bitcoin ETF Market Update

The combined value of U.S.-based spot bitcoin exchange-traded funds (ETFs) has climbed to approximately $58.4 billion in August, achieving its highest value this month. This follows a continuous seven-day streak of positive inflows that continued through Friday.

On Friday, the ETFs recorded their largest inflow since this trend began, with a net influx of $252 million, marking the highest inflow since July 22, per data from SoSoValue.

Notable ETFs

• BlackRock’s IBIT: Maintains its position as the largest spot bitcoin ETF, leading with about $87 million in net inflows.
• Fidelity’s FBTC: Second highest inflow, attracting $64 million.
• Grayscale’s GBTC: Despite being the second-largest ETF by asset value, it saw an outflow of $35 million. However, its Bitcoin Mini Trust (BTC) reported an inflow of $50 million.
• Bitwise’s BITB: Recorded $42 million in net inflows.
• Ark and 21Shares’ ARKB: Gained $24 million.
• VanEck’s HODL: Saw an increase of $14 million.
• Invesco’s BTCO and Valkyrie’s BRRR: Added $3 million and $2 million, respectively, while other tradable funds experienced no significant changes.

Spot Ether ETFs

Conversely, spot ether ETFs are facing a seventh consecutive day of net outflows, contrasting sharply with bitcoin’s inflows. Friday recorded a $5.7 million outflow, bringing the total outflows since August 15 to nearly $99 million.

In detail:
– Grayscale’s ETHE: Experienced a $9.8 million outflow.
– VanEck’s ETHV: Noted a gain of $2.0 million.
– Bitwise’s ETHW: Logged inflows of $1.4 million.
– Fidelity’s FETH: Saw about $700,000 in inflows.

Despite the overall outflows, the combined funds maintain their peak asset level since August 2, influenced by fluctuations in ether’s price according to SoSoValue data.