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Fidelity led the way for the second consecutive day with $61.3 million worth of inflows to its spot Bitcoin ETF — the Fidelity Bitcoin Fund. BlackRock’s IBIT followed with $20.4 million in inflows after a day of inactivity.
The increase in activity comes as SoSoValue data shows that 12 U.S.-based spot Bitcoin (BTC) ETFs recorded $36.01 million in inflows on Aug. 16. That’s a 223% increase compared to Aug. 15, when net inflows were $11.11 million.
Other notable inflows included $13.4 million into ARK 21Shares’s ARKB, $12 million into Bitwise’s BITB, and a modest $1.7 million into Franklin Templeton’s EZBC.
These gains helped offset a $72.9 million outflow from Grayscale’s GBTC, which has experienced total outflows of $19.64 billion since its inception.
Grayscale’s Bitcoin Mini Trust ETF experienced no net outflows, maintaining its total net inflow since launch at $288 million. This stability in the mini trust contrasts with the struggles faced by the main Grayscale product.
The remaining four Bitcoin ETFs also remained neutral on Aug. 16 as the cryptocurrency market anticipated a correction. The cumulative spot BTC ETF inflows have now surpassed the $17.3 billion mark.
Data from CoinGecko shows that the global crypto market capitalization declined by 0.3% in the past 24 hours, currently standing at $2.17 trillion. The total 24-hour trading volume also fell by 24%, hovering around $67.3 billion.
Bitcoin rose by 2% over the past 24 hours, trading at $59,228 at the time of writing.
Ethereum ETFs record $15m in outflows
In contrast, the nine Ethereum ETFs collectively saw $15 million in outflows on Aug. 16, marking the second consecutive day of outflows.
Leading the outflows was Grayscale’s ETHE, with ongoing outflows of $27.7 million, contributing to a total outflow of $2.41 billion since its inception. VanEck also saw a $4.8 million withdrawal from its offering.
Meanwhile, Fidelity’s FETH and BlackRock’s ETHA recorded inflows of $10.3 million and $7.2 million, respectively. The remaining five Ethereum ETFs saw no activity on the day.
Trading volume for Ether ETFs dropped to $185 million, significantly lower than the previous day. These funds have experienced a cumulative net outflow of $420.11 million to date.
Ethereum (ETH) had risen by 0.9% over the past 24 hours, trading at $2,604 at the time of writing.
This article first appeared at crypto.news
