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