Bitcoin, Ether Lead US Spot ETF Inflows as Altcoins Lag
Despite recent market fluctuations, Bitcoin and Ether stood out as the only assets to attract fresh investment in the US-listed spot cryptocurrency exchange-traded fund (ETF) market. According to data from SoSoValue for August 7, these two cryptocurrencies posted daily net inflows of $98.85 million and $49.6 million, respectively.
In contrast, other altcoins failed to draw any significant investment, with no net inflows or outflows recorded across the board. This trend has been consistent over the past 30 days, with Bitcoin pulling in a total of $896.6 million and Ether recording net inflows of $448.06 million.
The cumulative net inflows for these two cryptocurrencies have reached significant levels: $52.2 billion for Bitcoin and $11.46 billion for Ether. Meanwhile, other altcoins such as XRP, Solana, Hyperliquid's HYPE, Chainlink's LINK, and Hedera's HBAR trailed behind with much lower cumulative net inflows.