Bitcoin Spot ETF Sees $170 Million Inflow on First Day of August...Ethereum Sees Outflow

▲ Bitcoin (BTC), Ethereum (ETH)/ChatGPT Generated Image

Bitcoin (BTC) spot ETFs attracted over $170 million on the first trading day of August. Funds equivalent to the entire net inflow of July came in a single day, marking the strongest start among cryptocurrency spot ETFs.

According to cryptocurrency specialized media Cryptopotato on August 4 (local time), Bitcoin spot ETFs recorded a net inflow of over $170 million on Monday. On this day, they attracted the most funds among exchange-traded funds tracking cryptocurrencies. Breaking away from the sluggish trend of last week and late July, a large influx of investment funds occurred from the first trading day of August.

The daily net inflow was almost the same as the total net inflow for July, which was $172.42 million. Bitcoin also rebounded to $64,000 during the day after falling back to $62,200. This indicates a simultaneous occurrence of spot ETF fund inflows and the recovery of underlying asset prices.

In contrast, Ethereum (ETH) spot ETFs showed a mixed trend. In July, they attracted over $365 million, significantly outperforming Bitcoin spot ETFs. However, according to SoSoValue data, they recorded a net outflow of $11.42 million on Monday.

XRP spot ETFs saw a net inflow of $1.15 million. This continued the trend of no outflows since July 8, when the last net outflow occurred. There were no significant fund movements to report in Solana (SOL) spot ETFs and Dogecoin (DOGE) spot ETFs. As actual net inflows for these two products have been rare, this did not deviate significantly from market expectations.

Hyperliquid (HYPE) spot ETFs, which once showed the strongest performance among cryptocurrency ETFs, continued to be sluggish. The last day of net inflow was July 15, and approximately $1 million also flowed out on Monday. On the first trading day of August, funds were concentrated in Bitcoin spot ETFs, while net outflows continued for Ethereum and Hyperliquid spot ETFs.

[Article Summary]

-Bitcoin spot ETFs recorded a net inflow of over $170 million on Monday, close to the total net inflow for July.

-Ethereum spot ETFs saw an outflow of $11.42 million, but XRP spot ETFs received an inflow of $1.15 million.

-Hyperliquid spot ETFs continued to show an additional net outflow of approximately $1 million, having not recorded a net inflow since July 15.

*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*