Fidelity Leads Spot Bitcoin ETFs’ $187M Net Inflow

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United States spot Bitcoin (BTC) Exchange-Traded Funds (ETFs) recorded net inflows of $186.8 million, marking a four-day streak of positive momentum. According to CoinGlass data, the standout performer among the ETFs was Fidelity’s FBTC, with the highest inflow of $56.6 million.

Bitwise’s BITB followed suit with $45.4 million in inflows. Also, Ark Invest’s ARKB and VanEck’s HODL experienced $42.2 million and $20.5 million, respectively. Furthermore, Invesco’s BTCO saw $10.2 million in inflows, Franklin Templeton’s EZBC experienced $8.7 million in inflows, and WisdomTree’s BTCW saw $3.2 million. However, Grayscale GBTC and other prominent players in the space experienced zero daily inflows.

Spot Ethereum ETFs Experienced Outflows

Notably, the spot Bitcoin ETFs recorded an impressive $2.3 billion in trading volume, higher than the $1.1 billion the previous day. These positive inflows signify that institutional and retail investors have regained confidence in Bitcoin as a viable asset class. The market is expected to grow as more money comes in, especially if BTC prices stabilize and investors become more willing to take risks.

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In contrast to Bitcoin, spot Ethereum ETFs reported net outflows totaling $15.1 million. This is in addition to the $9.4 million outflows experienced on Monday. Only Grayscale’s spot ETH ETFs experienced $17.9 million in net outflows. Tuesday’s trading volume for Ethereum ETFs totaled $176 million. However, since their listing on July 23, these funds have amassed net outflows of $605.9 million, indicating a challenging period for Ethereum investors.

BlackRock ETF Sees Record BTC and ETH Inflows

Last month, BlackRock’s iShares ETFs experienced unprecedented BTC and ETH inflows. According to reports, these inflows marked the largest the asset management giant has ever seen in cryptocurrency products.

BlackRock’s iShares’ Bitcoin ETF accumulated 351,454 BTC ($21 billion) on August 21, with about 933 BTC in inflows. Within a week, BlackRock Bitcoin ETFs inflow amounted to 2,891 BTC, worth approximately $176,155,857. Likewise, BlackRock’s spot Ethereum ETF experienced inflows of about 10,300 ETH (worth over $26.88 million) within 24 hours.

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As such, BlackRock’s spot ETH ETFs have a total of 332,723 ETH, equivalent to $867.74 million in fiat. The ETHA also accumulated 20,603 ETH within a week.

Spot Bitcoin ETFs Surpassed Expectations

The United States approved 11 asset firms, including BlackRock, Grayscale, Fidelity Investments, and Butwise, to launch spot Bitcoin ETFs. Since then, spot Bitcoin ETFs have exceeded expectations. Recall that Spot BTC ETF trading volume surpassed $4.5 billion on the first day, soaring past $1.7 billion in just the first hour.

This development resulted in Bitcoin’s rally, which galloped past $48,000 shortly after the markets opened. Meanwhile, as the next halving creeps closer, Bitcoin is positioned as one of the best investments.