Bitcoin (BTC) Spot ETFs See $36m in Inflows, While Ethereum (ETH) ETFs Record $15m in Outflows

Fidelity led the way for the second consecutive day with $61.3 million worth of inflows to its spot Bitcoin ETF — the Fidelity Bitcoin Fund.

United States spot Bitcoin (BTC) exchange-traded funds (ETFs) saw a 223% increase in inflows on Aug. 16, as reported by SoSoValue.

Twelve U.S.-based spot Bitcoin ETFs recorded $36.01 million in inflows on Aug. 16, a significant increase compared to the $11.11 million in net inflows reported on Aug. 15.

Fidelity led the way for the second consecutive day with $61.3 million in inflows to its spot Bitcoin ETF, the Fidelity Bitcoin Fund. BlackRock’s IBIT followed with $20.4 million in inflows after a day of inactivity.

Other notable inflows included $13.4 million into ARK 21Shares’s ARKB, $12 million into Bitwise’s BITB, and a modest $1.7 million into Franklin Templeton’s EZBC.

These gains helped offset a $72.9 million outflow from Grayscale’s GBTC, which has experienced total outflows of $19.64 billion since its inception.

Grayscale’s Bitcoin Mini Trust ETF experienced no net outflows, maintaining its total net inflow since launch at $288 million. This stability in the mini trust contrasts with the struggles faced by the main Grayscale product.

The remaining four Bitcoin ETFs also remained neutral on Aug. 16 as the cryptocurrency market anticipated a correction. The cumulative spot BTC ETF inflows have now surpassed the $17.3 billion mark.

Data from CoinGecko shows that the global crypto market capitalization declined by 0.3% in the past 24 hours, currently standing at $2.17 trillion. The total 24-hour trading volume also fell by 24%, hovering around $67.3 billion.

Bitcoin rose by 2% over the past 24 hours, trading at $59,228 at the time of writing.

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