U.S. spot bitcoin exchange-traded funds reported $64.91 million in net inflows on Thursday, extending their streak of positive flows to six days.

BlackRock’s IBIT, the largest spot bitcoin ETF by net assets, recorded the largest inflows among the products on Thursday, with $75.49 million in net inflows, according to data from SoSoValue. 

Fidelity’s FBTC experienced inflows of $9.23 million, while Ark and 21Shares’ ARKB saw $7.83 million flow into the fund. WisdomTree’s BTCW followed this with $4.8 million, Grayscale’s BTC with $4 million and VanEck’s HODL with $3.41 million in net inflows.

Grayscale’s GBTC, the second-largest spot bitcoin ETF, saw $28.36 million exit the fund, and Bitwise’s BITB logged $11.5 million in net outflows.

The total trading volume for the 12 spot bitcoin ETFs on Thursday was $889.67 million, significantly lower than the $1.42 billion recorded on Wednesday.

Ether ETFs experience modest outflows

Meanwhile, the nine spot Ethereum ETFs in the U.S. recorded $874,610 in net outflows on Thursday, compared to outflows of $17.97 million the day before.

The Grayscale Ethereum Trust (ETHE) continued its streak of negative flows with $19.84 million in net outflows. It was the only spot ether ETF to report outflows on the day.

Fidelity’s FETH recorded the most significant stream of inflows, with $14.33 million. The Grayscale Ethereum Mini Trust (ETH) experienced inflows of $3.68 million, and VanEck’s ETHV logged $954,100 in inflows. The five other spot ether ETFs saw no flows.

These spot ether ETFs' total daily trading volume shrank to $93.87 million on Thursday, down from $201 million on Wednesday.

The price of bitcoin edged up 0.34% over the past hours to trade at $60,988 at the time of writing, while ether climbed 1.71% to $2,668, according to The Block’s price page.

Source : The Block Crypto News - Aug 23, 2024