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US bitcoin and ethereum spot ETFs recorded positive inflows together for the first time on August 1 since the launch of the nine Ether spot ETFs on July 23.
bitcoin ETFs see $50.6 million inflows
According data According to Farside Investors, the 11 spot bitcoin ETFs saw a net inflow of approximately $50.6 million on August 1, led by Grayscale’s newly launched Grayscale bitcoin Mini Trust, which alone saw a substantial $191.1 million in inflows.
Blackrock’s IBIT followed with a more modest inflow of $25.9 million, while continuing its third consecutive month without outflows. Meanwhile, Grayscale’s GBTC saw the most significant net outflows among competing products, at $71.3 million.
Next in line were Fidelity’s FBTC with $48.4 million in net outflows, Ark and 21Shares’ ARKB with $22.4 million, Bitwise BITB with $20.7 million, and VanEck’s HODL with $3.6 million in net outflows. The rest of the bitcoin ETFs remained neutral.
According to SoSoValue btc-spot” target=”_blank” rel=””>dataThe total daily trading volume of these spot bitcoin ETFs was $2.91 billion on Thursday, August 1, much higher than the $1.37 billion recorded on Tuesday, July 30 and Wednesday, July 31.
ethereum ETFs also see positive inflows of $26.7 million
Daily net inflows into all nine U.S. ethereum spot ETFs also remained positive despite Grayscale’s ethereum Trust (ETHE) seeing cumulative outflows exceeding $2 billion.
On Aug. 1, ethereum ETFs saw a net inflow of $26.7 million, with BlackRock’s iShares ethereum Trust leading the way with an inflow of $89.6 million, according to Farside Investors. data.
Grayscale’s ethereum Trust saw $78 million in outflows on the same day, bringing the fund’s total outflows to over $2 billion since it became a spot fund. Unlike the other eight spot ethereum ETFs launched on July 23, ETHE was originally a trust offering exposure to (eth) to institutional investors and converted to a spot ETF on the same date.
Prior to its conversion, ETHE had $9 billion in ethereum, and the recent outflow suggests that 22% of the initial fund had been sold.
Meanwhile, on August 1, Fidelity’s FETH and Bitwise’s ETHW saw inflows of $11.7 million and $3.4 million, respectively, while the remaining ethereum ETFs saw no flows on the day.
By eth-spot” target=”_blank” rel=””>data According to SoSoValue, the total daily trading volume for these spot ethereum ETFs was $331.11 million on Thursday, August 1, down from $472.5 million on Wednesday, July 31 and $563.22 million on Tuesday, July 30.
In a July 29 post on x, Steno Research senior analyst Mads Eberhardt predicted that Grayscale’s substantial ETHE outflows would likely slow this week, a trend that appears to have already begun. “When that happens, it will only increase from there,” Eberhardt commented.
At the time of writing, the price of bitcoin (btc) had fallen by about 0.2% to $64,200. ethereum, the largest altcoin in the cryptocurrency market, has also seen a slight drop of around 0.7% over the past day, currently trading around $3,147.