Spot Bitcoin ETFs attract investor interest despite August outflows
The positive inflows into ETFs from major players like Fidelity and BlackRock highlight the growing confidence in the investment vehicles.
United States-based spot Bitcoin exchange-traded funds (ETFs) have continued to attract investor interest despite outflows earlier in August.
On Aug. 16, data from SoSoValue revealed that the total weekly net inflow for spot Bitcoin (BTC) ETFs reached $32.58 million, in contrast to the outflows seen in the previous weeks. On Aug. 2, the net outflow for spot Bitcoin ETFs was $80.69 million, while on Aug. 9, the outflow reached $169 million.
However, the total net inflow for spot Bitcoin ETFs on Aug. 16 reached $36 million despite outflows of $72.9 million from the Grayscale Bitcoin Trust on the same day. While GBTC has been experiencing a continuous hemorrhage of funds, other spot Bitcoin ETFs are seeing regular inflows.
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Author: Amaka Nwaokocha
