U.S. spot Bitcoin ETFs attracted $853.5 million during five consecutive inflow sessions as August demand reversed the previous week’s withdrawals.
Summary
- Bitcoin ETFs recorded five straight inflow days from Aug. 3 through Aug. 7.
- Weekly net inflows reached approximately $853.5 million, according to SoSoValue.
- August flows are already nearly five times July’s $172.4 million total.
- Ethereum ETFs added another $244.9 million during the same trading week.
Bitcoin ETF inflows reverse previous week’s withdrawals
U.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 to SoSoValue.
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 reported that 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 demand
BlackRock 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 week
U.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.news reported that 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 limited
Smaller 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 previously reported that ETF demand supported the $64,000 area, but had not produced a confirmed breakout.
