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Bitcoin ETF Inflows Get a Boost as BTC Price Surpasses $64,000

August 24, 2024 - Around 2 mins mins to read

Key Points:

  • Bitcoin ETF inflows hit a record high of $252 million on August 23, marking the seventh consecutive day of positive inflows.
  • The total net asset value of spot Bitcoin ETFs is $58.4 billion, and the historical cumulative net inflow has reached $17.9 billion.
On August 23, Bitcoin exchange-traded funds participated in the increased interest of investors, as inflows were seen for the seventh day in a row.
Bitcoin ETF Inflows Get a Boost as BTC Price Surpasses $64,000

Read more: Spot Bitcoin ETFs Gain $65M in Net Inflows, Extending Streak

Bitcoin ETF Inflows Hit Record on August 23

The total Bitcoin ETF inflow yesterday was $252 million, an increase that has not been matched in a single day since July 23.

BlackRock’s IBIT was among the top performers, with $86.8 million to $20.7 billion in total historical inflows. The second in line was the FBTC by Fidelity, which saw $64 million in net inflows and increased its total historical inflows to $9.9 billion.

In contrast, Grayscale’s GBTC saw a net outflow of $35.6 million, further adding to the cumulative historical outflow of $19.7 billion. On the other hand, Grayscale Bitcoin Mini Trust posted a net inflow of $50.8 million for the day and total inflows of $357 million.

Spot Bitcoin ETFs Reach $58.4 Billion in Net Asset Value

As of the latest data, the net asset value for spot Bitcoin ETFs adds up to a total of $58.4 bln, with their market value accounting for 4.65% of the total Bitcoin market value. Historically, the cumulative net inflow has reached $17.9 billion.

The pickup in Bitcoin ETF inflows had been pinned to expectations for rate cuts by the Federal Reserve, economic uncertainty, and geopolitics, alongside new sources of demand. Spot-based Bitcoin ETFs launched in the United States, opening further access to the cryptocurrency between institutional and retail investors. Bitcoin has rallied above the $64,000 mark after a rather volatile August.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Bitcoin

Bitcoin ETF Inflow

Blackrock

BTC

Fidelity

Grayscale

Spot Bitcoin ETF

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Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.
News

Bitcoin ETF Inflows Get a Boost as BTC Price Surpasses $64,000

Key Points:

  • Bitcoin ETF inflows hit a record high of $252 million on August 23, marking the seventh consecutive day of positive inflows.
  • The total net asset value of spot Bitcoin ETFs is $58.4 billion, and the historical cumulative net inflow has reached $17.9 billion.
On August 23, Bitcoin exchange-traded funds participated in the increased interest of investors, as inflows were seen for the seventh day in a row.
Bitcoin ETF Inflows Get a Boost as BTC Price Surpasses $64,000

Read more: Spot Bitcoin ETFs Gain $65M in Net Inflows, Extending Streak

Bitcoin ETF Inflows Hit Record on August 23

The total Bitcoin ETF inflow yesterday was $252 million, an increase that has not been matched in a single day since July 23.

BlackRock’s IBIT was among the top performers, with $86.8 million to $20.7 billion in total historical inflows. The second in line was the FBTC by Fidelity, which saw $64 million in net inflows and increased its total historical inflows to $9.9 billion.

In contrast, Grayscale’s GBTC saw a net outflow of $35.6 million, further adding to the cumulative historical outflow of $19.7 billion. On the other hand, Grayscale Bitcoin Mini Trust posted a net inflow of $50.8 million for the day and total inflows of $357 million.

Spot Bitcoin ETFs Reach $58.4 Billion in Net Asset Value

As of the latest data, the net asset value for spot Bitcoin ETFs adds up to a total of $58.4 bln, with their market value accounting for 4.65% of the total Bitcoin market value. Historically, the cumulative net inflow has reached $17.9 billion.

The pickup in Bitcoin ETF inflows had been pinned to expectations for rate cuts by the Federal Reserve, economic uncertainty, and geopolitics, alongside new sources of demand. Spot-based Bitcoin ETFs launched in the United States, opening further access to the cryptocurrency between institutional and retail investors. Bitcoin has rallied above the $64,000 mark after a rather volatile August.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
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