Bitcoin ETFs Flooded with $170M as Blackrock's IBIT Leads

Bitcoin exchange-traded funds (ETFs) saw significant inflows at the start of August, with nearly $170 million pouring in. Blackrock's IBIT led the charge, capturing almost two-thirds of the category's daily net inflow with $111.43 million.

The influx was broad-based, with seven funds recording gains and none reporting outflows. Fidelity's FBTC returned to positive territory with a $33.36 million addition, while Franklin Templeton's EZBC attracted $9.23 million and Invesco's BTCO received $6.67 million.

Meanwhile, Ether ETFs experienced an $11.42 million net outflow, with Blackrock's ETHA losing $9.03 million and Grayscale's ETHE shedding about $7.84 million. XRP ETFs, however, attracted $1.15 million, all of which went into Canary Capital's XRPC.

Intesa Sanpaolo's recent disclosure revealed a significant shift in its quarter-end crypto ETF holdings, with the bank reducing its common IBIT position by 93.7% between March 31 and June 30.