Bitcoin and Ethereum ETFs See Consecutive Inflows on 2nd Day
- WBOYOriginal
- 2024-08-14 18:00:27403browse
The crypto market has witnessed a renewal in ETF interest concerning Ethereum and Bitcoin. Spot On Chain, a popular on-chain analytics platform reported that the BTC and ETH exchange-traded funds have witnessed substantial inflows on the 13th of August, denoting the 2nd consecutive day with positive development.
The crypto market has shown a renewed interest in ETF for Bitcoin and Ethereum.
Spot On Chain, a popular on-chain analytics platform, reported that BTC and ETH exchange-traded funds saw a significant inflows on August 13, marking the second consecutive day of positive performance.
The analytics provider took to its official X account to share the details of these inflows.
Bitcoin and Ethereum ETFs See Consecutive Inflows on 2nd Day
Spot On Chain noted in its exclusive X post that Bitcoin ETFs added $39M, while Ethereum ETFs gained $24M.
This development highlights continued investor confidence in ETFs.
Specifically, Bitcoin’s ETF market saw a net inflow of $39M on August 13, continuing a positive trend compared to the previous day.
iShares Bitcoin Trust (IBIT) dominated the ETF segment with an inflow of $34.5M.
This large amount of funds shows strong demand from investors at the institutional level.
BlackRock’s continued dominance in the BTC ETF space indicates increasing trust, especially from large-scale investors who might be considering Bitcoin as an avenue for long-term investment.
However, the market also saw some outflows, with Grayscale’s Bitcoin Trust recording the largest outflow on August 13 at $28.6M.
Despite this, the overall flow was positive, indicating a continuation of the bullish momentum in the ETF market.
The consecutive two days of positive flows suggest a potential bullish trend for Bitcoin ETFs.
Overall Positive ETF Flows Show a Shift in Investor Sentiment
The investors are preparing for further gains in the ETF market.
Ethereum ETFs also saw a large addition of funds, with these ETFs seeing a net inflow of $24M on August 13.
This continues a trend that began the previous day, marking the second day of consecutive positive flows for ETH ETFs.
Grayscale’s Ethereum Trust saw a large outflow of $31M.
Renewed outflows from Grayscale are highlighting a shift in investor sentiment toward Ethereum.
On the other hand, iShares Ethereum Trust by BlackRock saw a net inflow of $49.1M after a day with $0 net flow.
According to Spot On Chain, investor sentiment for Bitcoin and Ethereum ETFs remains strong despite the sideways performance of ETFs like Grayscale.
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