Spot Bitcoin ETFs maintain positive flows for 8 out of the last 10 days

Around 80% of the past fortnight’s spot Bitcoin ETF trading days have had positive flows, despite Bitcoin seeing sideways price action.

United States spot Bitcoin exchange-traded funds (ETFs) have maintained positive flows for eight out of the past ten consecutive trading days. 

On Aug. 20, the ETFs saw an aggregate inflow of $88 million, their highest for two weeks according to preliminary data from Farside Investors.

It marks 80% of the past fortnight’s Bitcoin (BTC) ETF trading days seeing positive flows, with just two days — Aug. 9 and Aug. 14 — seeing an outflow.

BlackRock’s iShares Bitcoin Trust (IBIT) led the pack with an inflow of $55.4 million, bringing the total net inflow for the product since its launch in January to $20.5 billion.

IBIT, which surpassed longtime Bitcoin ETF player Grayscale in terms of assets under management (AUM), has not seen an outflow day since May 1 — the only day of net outflows it has had since it launched in January.

The Ark 21Shares Bitcoin ETF (ARKB) was a close second with an inflow of $51.9 million on Aug. 20.

The Grayscale Bitcoin Trust (GBTC) saw a net outflow of $12.8 million, and the Bitwise Bitcoin ETF (BITB) also saw minor net outflows of $6.5 million. The remaining funds saw zero flows.

Related: Adviser holdings in Bitcoin ETFs rise, hedge fund stakes dip — Coinbase

Grayscale’s flagship fund has lost $19.6 billion since its conversion to an ETF seven months ago. Its lower-fee Bitcoin Mini Trust (BTC) has gained just $288 million since its launch on July 31.

It was also recently reported that 60% of the largest hedge funds in the United States have exposure to Bitcoin ETFs, according to Sam Baker, researcher at investment firm River.

Spot Ether ETFs, meanwhile, have seen five out of the past eight trading days outflowing assets.

Aug. 20 saw the nine newly launched spot Ether (ETH) ETFs post joint net outflows of $6.5 million, making their fourth consecutive day of outflows, per Farside Investors.

BlackRock’s iShares Ethereum Trust (ETHA) had $26.8 million in net inflows, not enough to outpace the $37 million net outflow from Grayscale’s Ethereum Trust (ETHE).

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