Inflows into spot Bitcoin ETFs from August 19 to 23 amounted to $506.4 million, according to SoSoValue. This positive trend continued for the second consecutive week.
On August 23, clients withdrew $35.6 million from Grayscale’s GBTC.
The structure of inflows was as follows:
- IBIT from BlackRock — $86.8 million;
- FBTC from Fidelity — $64 million;
- BTC from Grayscale — $50.8 million;
- BITB from Bitwise — $42.3 million;
- ARKB from ARK Invest & 21 Shares — $23.8 million;
- HODL from VanEck — $14.4 million;
- BTCO from Invesco — $3.2 million;
- BRRR from Valkyrie — $2.3 million.
Other products recorded no change.
Total inflows since the approval of BTC-ETFs in January have increased to $17.9 billion.
ETH-ETF
Outflows from spot Ethereum ETFs from August 19 to 23 totaled $44.5 million, according to SoSoValue. This negative trend continued for the second consecutive week.
Net withdrawals for the entire period increased to $464.7 million.
Total outflows from the Grayscale Ethereum Trust (ETHE) rose to $2.53 billion. On August 23, the figure increased by $9.8 million.
Inflows into ETHA from BlackRock reached $1 billion.
FETH from Fidelity attracted a total of $390.5 million, ETHW from Bitwise — $312.2 million, ETH from Grayscale — $235.8 million.
Inflows into other products ranged from $10.8 million to $63.1 million.
As reported by CoinShares, the increased demand for Bitcoin funds was linked to Federal Reserve Chairman Jerome Powell’s speech at the Jackson Hole symposium, where he confirmed the possibility of a rate cut in September.
Earlier, experts noted several factors that could reignite a bull run for the leading cryptocurrency.