US Spot Bitcoin ETFs Record $192M in Inflows Amid Net Loss for ETH ETFs

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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.