BlackRock's IBIT Dominates Bitcoin ETF Inflows as Ethereum Funds Lag
The spot Bitcoin ETF market saw modest gains on August 11, but Ethereum products suffered net outflows of $1.7644 million.
According to SoSoValue's market update, Bitcoin funds recorded a total of $4.8862 million in net inflows, with only BlackRock's IBIT (IBIT) attracting fresh capital, while other issuers experienced either zero flows or mild outflows.
Fidelity's FETH led the decline among Ethereum ETFs, recording $2.3283 million in redemptions, a significant move that outweighed any minor interest elsewhere.
The split between Bitcoin and Ethereum funds is telling, suggesting that demand for spot ETFs is not broad-based, but rather single-name centric, with IBIT being the default gathering point due to its brand recognition, deep liquidity, and tight spreads.