Spot Bitcoin ETFs in the United States have finally seen a turnaround in investor sentiment, with the first day of inflows in more than a week. According to data from Coinperps, these ETFs collectively attracted $219 million on Aug. 25, breaking a streak of six consecutive trading sessions of withdrawals.
Leading the rebound were Fidelity, BlackRock, and Ark 21Shares, each attracting over $60 million. Fidelity’s FBTC saw the largest daily intake at $65.6 million, followed by BlackRock’s IBIT with $63.4 million and Ark’s ARKB with $61.2 million. Smaller inflows were seen in Bitwise’s BITB ($15.2 million), Grayscale’s Bitcoin Trust ($7.3 million), and VanEck’s HODL ($6.3 million). On the other hand, ETFs from Invesco, Valkyrie, WisdomTree, and Franklin Templeton did not see any new capital inflows on the day.
This positive turn of events comes after a challenging period in mid-August when these funds experienced withdrawals totaling approximately $1.2 billion, reflecting profit-taking and caution among institutional investors. The reversal in flows suggests that some investors are now seeing renewed opportunities in Bitcoin despite its recent loss of momentum.
Meanwhile, Ethereum ETFs continue to outpace Bitcoin ETFs in terms of investor demand. On the same day, spot Ethereum ETFs attracted $443.9 million in net inflows, more than double the amount seen in Bitcoin ETFs. BlackRock’s ETHA led the pack with $314.9 million, followed by Fidelity’s FETH with $87.4 million. Smaller contributions came from Grayscale’s Mini Ethereum Trust and offerings by Bitwise, 21Shares, and Invesco, totaling about $17 million.
This strong showing by Ethereum ETFs follows a volatile week where outflows equivalent to 105,000 ETH were recorded, breaking a streak of steady demand. However, data from Glassnode indicates that the tide has turned again, with institutions adding back 16,900 ETH at the beginning of this week.
The contrasting flows between Bitcoin and Ethereum ETFs showcase the evolving investor positioning in the current market environment. While Bitcoin ETFs are showing signs of stabilization after a period of redemptions, Ethereum funds are attracting stronger conviction in the short term.
Overall, the positive inflows into both Bitcoin and Ethereum ETFs indicate a growing interest and confidence in the cryptocurrency market among institutional investors. This shift in sentiment could pave the way for further growth and development in the ETF space as digital assets continue to gain mainstream acceptance.