Bitcoin and Ethereum ETFs See Record Inflows Amid Price Surge
Crypto ETFs are seeing significant inflows as Bitcoin and Ethereum experience price surges. On August 19, spot Bitcoin ETFs recorded net inflows of $517 million, their highest daily performance in three months. This comes alongside a sharp increase in Bitcoin's price, surpassing $72,000 for the first time since June 1.
BlackRock's iShares Bitcoin Trust led the inflows with $284.74 million, adding 4,167 BTC to its holdings. Ark Invest's ARKB followed closely at $77.71 million, while Fidelity's FBTC and Bitwise's BITB recorded $62.41 million and $35.60 million in inflows respectively.
In related news, spot Ethereum ETFs saw inflows of $186 million on August 19, the highest daily performance in nine months. BlackRock's ETHA led with $122.12 million in inflows, followed by Fidelity's FETH at $36.54 million and Grayscale's Ethereum Mini ETF at $16.04 million.
Market experts like Michael van de Poppe believe that after such a sharp move, ETH price will likely consolidate before starting the next leg of the rally.