- With an incredible $191 million inflow, Grayscale’s Mini BTC Trust ETF stands out.
- Around $25.9 million poured into BlackRock’s IBIT.
Today, the spot Bitcoin ETFs saw significant inflows, reviving their previous surge in popularity. With an incredible $191 million inflow, Grayscale’s Mini BTC Trust ETF stands out among the others. As for the spot Ether ETFs, they kept seeing market volatility, with Grayscale’s ETH ETF seeing ongoing withdrawals.
As of August 1, according to data provided by FarsideUK, $50.6 million has been entered into the spot Bitcoin ETFs. A massive $191.1 million poured into Grayscale’s new mini BTC ETF, which boasts the lowest trading fees. Also, on the same day, $25.9 million poured into BlackRock’s IBIT.
While Bitwise’s BITB lost $20.7 million and Ark 21Shares’ ARKB lost $22.4 million, Fidelity’s FBTC lost $48.4 million. Nevertheless, because of the outrageous 1.5% charge, Grayscale’s GBTC saw $71.3 million go.
The cumulative outflows from Grayscale’s Ethereum ETF (ETHE) reached above $2 billion on August 1, with $78.8 million going out. The ETHE outflows have slowed substantially, suggesting a possible change in market sentiment.
High Volatility Witnessed
Despite investments flowing into Bitcoin ETFs, the cryptocurrency’s value has been very volatile over the last day. Massive $2.5 billion liquidations occurred when BTC dipped below $63,000, setting the stage for the subsequent unpredictable volatility. However, the price bounced back making brief gains. At the time of writing, Bitcoin is trading at $64,720, up 0.59% in the last 24 hours as per data from CMC.
Additionally, it should be noted that Microstrategy has expressed their intention to file for a $2 billion equity offering in order to acquire additional Bitcoin, which has sparked confidence about potential future moves.
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