Spot Bitcoin ETFs Records $203M Inflow, Marking Eight-Day Positive Flow

The United States spot Bitcoin exchange-traded funds (ETF) recorded an impressive net inflow of $203 million on Monday, August 26, 2024. With this, the 12 funds have seen positive flows for the eight consecutive days.

BlackRock Sees $224M Inflow

According to data from SoSoValue, BlackRock’s iShares Bitcoin Trust (IBIT) led the pack with a single-day inflow of $224 million. This marks the fund’s largest single-day inflow since July 22. Since it went live on January 11, IBIT has attracted a remarkable net inflow of nearly $21 billion—more than any US spot ETF.

Moreover, the fund now holds approximately 350,000 bitcoin (BTC), valued at $22 billion in current market prices. This maintains IBIT dominance as the top BTC holder among the 12 US spot ETFs, including Grayscale’s pre-existing Bitcoin Trust.

Other beneficiaries included the Franklin Bitcoin ETF (EZBC) and the WisdomTree Bitcoin Fund (BTCW), which saw net Inflows of $5.52 million and $5 million, respectively.

On the other hand, Fidelity Wise Origin Bitcoin Fund (FBTC), Bitwise Bitcoin ETF (BITB), and VanEck Bitcoin Trust (HODL) saw negative flows of $8 million, $16 million, and $7 million, respectively.

Other funds, including Grayscale’s Bitcoin Trust (GBTC), ARK 21Shares Bitcoin ETF (ARKB), Grayscale Bitcoin Mini Trust (BTC), Valkyrie Bitcoin Fund (BRRR), Galaxy Bitcoin ETF (BTCO), and Hashdex Bitcoin ETF (DEFI), recorded zero flows for the day.

The positive flows now bring the cumulative net inflow of the 12 funds to $18.08 billion, with a net asset value (NAV) of $58.47 billion. This NAV represents 4.67% of BTC’s total market value.

Price Performance

The latest development comes as BTC faces slight retracements from its recent price rally, which saw it climb above the $63,000 mark.

At the time of writing this report, the pioneering cryptocurrency was trading at $62,335, marking a mild 2.3% decline in the past 24 hours.