Bitcoin ETFs draw $853. 5M in five-day inflow streak
U. S. spot Bitcoin ETFs attracted $853. 5 million during five consecutive inflow sessions as August demand reversed the previous week’s withdrawals. SummaryBitcoin ETFs recordedfive straight inflow daysfrom Aug. . . .
U. S. spot Bitcoin ETFs attracted $853. 5 million during five consecutive inflow sessions as August demand reversed the previous week’s withdrawals. SummaryBitcoin ETFs recordedfive straight inflow daysfrom Aug. 3 through Aug. 7. Weekly net inflows reachedapproximately $853. 5 million, according to SoSoValue. August flows are already nearlyfive times July’s $172. 4 milliontotal. Ethereum ETFs added another $244. 9 millionduring the same trading week. Bitcoin ETF inflows reverse previous week’s withdrawalsU. S. spot Bitcoin ETFs opened August with $170. 1 million in net inflows on Aug. 3, followed by $211. 5 million on Aug. 4, according toSoSoValue. Inflows increased to $244. 4 million on Aug. 5, the strongest session of the week. The funds subsequently added approximately $128. 8 million on Aug. 6 and $98. 85 million on Aug. 7. The five daily results produced approximately $853. 5 million in combined net inflows, depending on rounding. The performance represented a roughly $915 million swing from the previous week, when the products recorded $61. 5 million in net outflows. The streak also followed a volatile end to July. crypto. news previously reportedthat investors withdrew approximately $265 million from the funds on July 31. BlackRock’s IBIT lost $123 million that day, while Fidelity’s FBTC recorded $54. 8 million in withdrawals. BlackRock accounts for most Bitcoin ETF demandBlackRock remained the largest source of new demand during the August streak. IBIT attracted an estimated $693 million over the five sessions, accounting for roughly 81% of the category’s total inflows. The fund added $86. 71 million on Aug. 7 alone. Fidelity’s FBTC followed with $40. 95 million, while Bitwise’s BITB and ARK 21Shares’ ARKB drew $2. 11 million and $1. 94 million, respectively. Those allocations offset $19. 37 million in withdrawals from Invesco and Galaxy’s BTCO, $10. 55 million from VanEck’s HODL and $2. 94 million from Hashdex’s DEFI. Total spot Bitcoin ETF net assets reached $79. 50 billion by the end of Aug. 7, equal to approximately 6. 10% of Bitcoin’s market capitalization. Cumulative net inflows since launch stood at $52. 18 billion, while the products generated $1. 57 billion in daily trading value. August’s $853. 5 million inflow total is already nearly five times the approximately $172. 4 million attracted during all of July. It is also about 395% higher than July’s full-month result after only five trading sessions. Ethereum ETFs add $244. 9 million during the weekU. S. spot Ethereum ETFs also recorded a strong week, attracting approximately $244. 9 million from Aug. 3 through Aug. 7. The products began with an $11. 42 million outflow before adding $53. 75 million on Aug. 4, and $60. 86 million on Aug. 5. Daily inflows then increased to $92. 15 million on Aug. 6 before easing to $49. 60 million on Aug. 7. Crypto. newsreportedthat the Aug. 6 inflow coincided with Ether holding above $1,900 and approaching the $2,000 psychological level. BlackRock’s ETHA drove much of the demand, collecting $50. 34 million on Aug. 5, $81. 14 million on Aug. 6 and $38. 15 million on Aug. 7. Total Ethereum ETF net assets reached approximately $10. 74 billion, representing 4. 65% of Ether’s market capitalization. Bitcoin and Ethereum ETFs therefore attracted nearly $1. 10 billion combined during the week. Other crypto ETF flows remain limitedSmaller crypto ETF categories did not experience comparable demand. HYPE products recorded modest positive flows, including roughly $1 million on Aug. 5 and $2. 84 million on Aug. 6. XRP funds finished slightly negative after a $3. 58 million withdrawal on Aug. 5 offset the $1. 15 million attracted on Aug. 3. Solana ETFs were broadly flat, with a $1 million inflow on Aug. 4 largely canceled by an $859,500 withdrawal on Aug. 6. The differences show that regulated crypto investment demand remained concentrated in Bitcoin and Ethereum during the opening week of August. Bitcoin itself remained below $65,000 despite the inflows. crypto. news previouslyreportedthat ETF demand supported the $64,000 area, but had not produced a confirmed breakout.