Bitcoin exchange-traded funds (ETFs) broke their four-day red streak with a $92 million inflow, led by Blackrock and Bitwise, while ether ETFs extended their recovery with a $35 million gain.
BTC and ETH ETFs See Gains As Market Finds Its Footing
Signs of stabilization crept back into crypto markets on Wednesday, Aug. 6, as both bitcoin and ether ETFs recorded inflows, ending bitcoin’s multi-day outflow streak and continuing ether’s modest rebound.
Bitcoin ETFs collectively brought in $91.55 million, marking the first green day after four consecutive sessions in the red. Blackrock’s IBIT topped the leaderboard with $41.93 million in inflows. Bitwise’s BITB followed closely, adding $26.35 million, while Grayscale’s GBTC and Fidelity’s FBTC brought in $14.50 million and $10.06 million, respectively.
Vaneck’s HODL chipped in with $4.08 million. A minor outflow of $5.37 million from Ark 21shares’ ARKB was the only red mark on an otherwise strong day. Total trading volume came in at $2.39 billion, with net assets holding at $148.50 billion.
Source: Sosovalue
Meanwhile, ether ETFs posted another day of gains, notching $35.12 million in net inflows. Blackrock’s ETHA once again led the charge with $33.39 million, followed by Grayscale’s ETHE with $10.04 million. 21Shares’ CETH saw a modest $367K trickle in, while Grayscale’s Ether Mini Trust saw an $8.67 million outflow that wasn’t enough to reverse the day’s green close. Trading volume for ETH ETFs totaled $995.63 million, with net assets ticking up to $20.61 billion.
The synchronized inflows may indicate cautious optimism returning to institutional crypto markets after last week’s volatility and early-week drawdowns. Whether this is a temporary pause or the start of a broader reversal remains to be seen.