Grayscale’s Mini BTC Trust ETF has emerged as a standout performer with a remarkable inflow of $191 million. In contrast, BlackRock’s IBIT received $25.9 million. The spot Bitcoin ETFs saw significant inflows, reigniting their previous surge in popularity. Grayscale’s Mini BTC Trust ETF attracted the most attention with its massive inflow of $191 million. However, the spot Ether ETFs continued to experience market volatility, with ongoing withdrawals from Grayscale’s ETH ETF.
According to data from FarsideUK, the spot Bitcoin ETFs received a total of $50.6 million as of August 1. Grayscale’s new mini BTC ETF, which boasts the lowest trading fees, attracted a massive inflow of $191.1 million. On the same day, BlackRock’s IBIT received $25.9 million. Bitwise’s BITB lost $20.7 million, Ark 21Shares’ ARKB lost $22.4 million, and Fidelity’s FBTC lost $48.4 million. Grayscale’s GBTC, despite its 1.5% charge, saw an outflow of $71.3 million.
The cumulative outflows from Grayscale’s Ethereum ETF (ETHE) surpassed $2 billion on August 1, with $78.8 million being withdrawn. However, the outflows from ETHE have significantly slowed down, indicating a potential change in market sentiment.
Although investments poured into Bitcoin ETFs, the cryptocurrency’s value has been highly volatile in the past day. When BTC dropped below $63,000, massive liquidations of $2.5 billion occurred, leading to subsequent unpredictable volatility. However, the price quickly rebounded and made brief gains. At the time of writing, Bitcoin is trading at $64,720, showing a 0.59% increase in the last 24 hours according to data from CMC.
It’s worth noting that Microstrategy has announced its intention to file for a $2 billion equity offering to acquire more Bitcoin, which has instilled confidence in potential future moves.
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