U.S. spot Bitcoin exchange-traded funds (ETFs) recorded their fifth consecutive day of positive flows, attracting $39.42 million on Wednesday. In contrast, spot Ether ETFs experienced their fifth straight day of net outflows.
Grayscale’s mini Bitcoin trust reported net inflows of $14.2 million, while Fidelity and Bitwise’s spot Bitcoin funds both saw approximately $10 million in inflows, according to data from SoSoValue.
BlackRock’s IBIT, the largest spot Bitcoin ETF by net assets, recorded $8.35 million in inflows. Other notable inflows included $3.55 million into Franklin Templeton’s EZBC and $2.46 million into Invesco’s BTCO.
The only net outflows were from Grayscale’s converted GBTC fund, which saw $9.82 million withdrawn. Six other funds, including Ark and 21Shares’ ARKB, reported zero flows for the day.
The total daily trading volume for the 12 Bitcoin ETFs reached $1.42 billion on Wednesday, up from $1.35 billion on Tuesday. Since their launch, these funds have accumulated $17.56 billion in total net inflows.
Ether ETFs Continue to Struggle
Meanwhile, spot Ether ETFs recorded $17.97 million in net outflows on Wednesday. Grayscale’s ETHE was the primary source of these outflows, with $31.14 million withdrawn.
However, some Ether ETFs did see inflows; Fidelity’s FETH led with $7.93 million, followed by Grayscale’s Ethereum Mini Trust with $4.24 million, and Franklin Templeton’s ether fund with $1 million, according to Farside Investors.
The trading volume for nine Ether ETFs amounted to $201 million on Wednesday, up slightly from $194.66 million on Tuesday. Despite these inflows, the total cumulative net outflows for Ether ETFs grew to $458.08 million.
Since their launch on July 23, U.S. spot Ether ETFs have seen five straight days of outflows, marking their longest period of continuous outflows. Outflows from the Grayscale Ethereum Trust (ETHE) have been particularly significant, exceeding $2.5 billion as of August 21.
During this period, Grayscale’s ETHE reported $158.6 million in outflows. However, inflows from other Ether ETFs, including BlackRock’s iShares Ethereum Trust ETF (ETHA), the Fidelity Ethereum Fund (FETH), and Bitwise Ethereum ETF (ETHW), have helped mitigate the impact.
In contrast, the Grayscale Ethereum Mini Trust has maintained positive flows since its launch, with a net inflow of $231.9 million. ETHA also became the first spot Ether ETF to surpass $1 billion in net inflows on August 20. Despite these positive flows, net flows from spot Ether ETFs currently stand at negative $458.5 million.
Bitcoin ETFs Continue to Draw Investor Interest
On the other hand, U.S. spot Bitcoin ETFs, which launched in January 2024, have maintained net positive flows of $17.5 billion. Despite significant outflows from the Grayscale Bitcoin Trust, which totaled $19.6 billion, Bitcoin ETFs have continued to attract investments, maintaining positive flows for eight out of the last 10 days.
On August 20, Bitcoin ETFs saw aggregate inflows of $88 million, the highest in two weeks, with BlackRock’s iShares Bitcoin Trust leading the inflows with $55.4 million. This brings the total net inflow for the product since its launch to $20.5 billion.
