On August 5, total inflows into ETH-ETF reached $48.7 million, marking the second-highest result since the products were approved. This data is provided by SoSoValue.
The net outflow for the entire period decreased to $462 million.
Total withdrawals from the Grayscale Ethereum Trust (ETHE) increased to $2.16 billion. On August 5, the figure rose by $46.8 million.
Positive trends in the products were driven by inflows into ETHA from BlackRock ($47.1 million).
In addition, inflows were recorded for:
- ETHV from VanEck — $16.6 million;
- FETH from Fidelity — $16.2 million;
- ETH from Grayscale — $7.6 million;
- ETHW from Bitwise — $7.2 million;
- EZET from Franklin Templeton — $0.9 million.
BTC-ETF
Spot Bitcoin ETFs continued to experience negative inflow dynamics. Net outflows were recorded at $168.4 million.
Trading volume increased.
Investors contributed $21.8 million to BTC from Grayscale, $3 million to HODL from VanEck, and $2.9 million to BITB from Bitwise.
This was insufficient to offset withdrawals from GBTC by Grayscale ($69.1 million), ARKB by 21Shares ($69 million), and FBTC by Fidelity ($58 million).
No changes were recorded for other instruments.
Total inflows since the approval of BTC-ETF in January have decreased to $17.3 billion.
In a related development, 15,000 financial advisors at Morgan Stanley will begin offering their clients exchange-traded funds based on the first cryptocurrency, according to media reports.
Previously, Bitwise CIO Matt Hougan predicted Bitcoin could reach $100,000 by the end of the year. He cited the approval of instruments by major capital management platforms, including Morgan Stanley and Wells Fargo, as a driving factor.