Bitcoin ETFs Complete Weekly Inflow Streak, Ethereum ETFs Do the Opposite

On the 23rd of August, the latest data about the performance of Ethereum and Bitcoin ETFs highlights substantial movements. Lookonchain, a popular on-chain analytics provider, disclosed that the Bitcoin ETFs have witnessed significant inflows while the Ethereum ETFs have experienced outflows, signifying the present diversified investor sentiment regarding crypto. The analytics firm took to its official social media account to provide the details about these ETFs.

Aug 23 Update:

10 #Bitcoin ETFs
NetFlow: +992 $BTC(+$60.84M)🟢#iShares inflows 1,252 $BTC($76.8M) and currently holds 352,843 $BTC($21.65B).

9 #Ethereum ETFs
NetFlow: -4,972 $ETH(-$13.23M)🔴#Grayscale(ETHE) outflows 11,885 $ETH($31.61M) and currently holds 1,830,266… pic.twitter.com/LZ5U9fDdLu

— Lookonchain (@lookonchain) August 23, 2024

Bitcoin ETFs Add $60.84M Worth of BTC Tokens

In the case of Bitcoin ETFs, Lookonchain noted that up to 992 BTC entered this market. This denotes a positive net flow with a value of nearly $60.84 million. It added that this rise in flows points toward an increasing investor interest in the financial products dealing with Bitcoin. iShares Bitcoin ETF emerged as a noteworthy contributor to the respective positive trend. The exchange-traded fund recorded a substantial inflow of almost $76.8 million.

Because of the respective inflow, the Bitcoin holdings of iShares have surged to a great extent. At the moment, iShares reportedly holds a staggering amount of nearly 352,843 BTC. This figure accounts for up to $21.65 billion. IShares’ BTC accumulation as well as the overall optimistic flow in BTC ETFs mirrors a bullish outlook. Investors potentially view Bitcoin as a viable asset for their portfolios.

ETH ETFs Incurred Outflows of 4,972 ETH Tokens

As opposed to this, development, Ethereum ETFs expressed a negative trend. The report from Lookonchain 4,972 ETH left the Ethereum ETF sector. The respective level signifies a decline of approximately $13.23M. Grayscale’s Ethereum Trust (ETHE) went through massive outflows. In this respect, it saw the 11,885 ETH leaving it. This amount equals $31.61M. As per Lookonchain, irrespective of the outflow, the exchange-traded fund holds a huge reserve of almost 1,830,266 ETH (equaling $4.87B).

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