Spot Bitcoin ETFs Dominate the Market as Net Inflows Reach $27.87 Million

Spot Bitcoin ETFs have once again taken the lead in the cryptocurrency market, with net inflows reaching $27.87 million on August 12th. This marks a significant reversal from the $45.14 million outflows recorded just days before on August 9th.

Spot Bitcoin ETFs took the lead in the crypto market on August 12th, with a net inflow of $27.87 million, reversing the outflow of $45.14 million on August 9th. This left spot Ethereum ETFs trailing far behind, highlighting Bitcoin's dominance in crypto investment.

According to data from SoSoValue, the 12 spot Bitcoin ETFs in the United States started the week strong. ARK 21Shares's ARKB led the pack with an inflow of $35.4 million, and the ETF has gathered a total of $2.45 billion since its launch. BlackRock's IBIT also posted a solid number with an inflow of $13.4 million, becoming the only ETF to record inflows for two consecutive days. On the other hand, Grayscale's Bitcoin mini trust fund had the least interest with an inflow of $7.9 million.

Despite these strong performances, not all Bitcoin ETFs had a positive day. Grayscale's GBTC, a major player in the market, saw an outflow of $11.8 million, adding to its total outflow of $19.46 billion since its inception. The other ETFs on the list saw no net flows on that day with a trading volume of $1.3 billion across all spot Bitcoin ETFs, which was slightly higher than the $1.27 billion recorded on August 12th. The cumulative net inflows into spot Bitcoin ETFs now stand at $17.37 billion, showing sustained investor interest in Bitcoin.

Spot Bitcoin ETFs Dominate Over Ethereum ETFs

While spot BTC ETFs enjoyed a strong influx of funds, the same cannot be said for spot Ethereum ETFs. On the same day, the nine spot Ethereum ETFs saw much smaller net inflows, totaling just $4.93 million. This small gain ended a three-day streak of net outflows, highlighting the relative weakness of Ethereum-based ETFs compared to their Bitcoin counterparts.

Fidelity's FETH led the market with an inflow of $4 million, followed by Bitwise's ETHW and Franklin Templeton's EZET with inflows of $2.9 million and $1 million, respectively. However, not all was positive for Ethereum ETFs. VanEck's ETHV experienced its first day of outflows since its launch, with $2.9 million exiting the fund. The other Ethereum ETFs remained neutral, with no significant inflows or outflows recorded.

Despite the smaller inflows, trading volume for Ethereum ETFs jumped to $285.96 million, a notable increase that reflects ongoing investor interest. However, the overall picture remains bleak for Ethereum ETFs, with a cumulative net outflow of $401.01 million to date.

Spot Bitcoin ETFs Continue to Outperform

As of now, Bitcoin is trading at $59,105, and Ethereum is valued at $2,641. The vast difference in inflows between spot BTC ETFs and spot Ethereum ETFs highlights Bitcoin's continued dominance in the market. Investors are showing a preference for Bitcoin as the more stable and reliable asset, especially in the volatile world of cryptocurrencies.

The inflows into spot Bitcoin ETFs not only indicate investor confidence but also show the increasing demand for Bitcoin as an investment vehicle. As spot BTC ETFs continue to outperforming their Ethereum counterparts, it is clear that cryptocurrencies are being integrated into the mainstream financial system through regulated financial products.

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