BTC and ETH ETF Inflows Surge to Highest Levels Since Last October
A notable surge in combined inflows for Bitcoin (BTC) and Ethereum (ETH) spot exchange-traded funds (ETFs) occurred in August, outpacing October's totals. According to Crypto.com, BTC ETFs saw $925 million in net inflows last week, down from $1.9 billion the previous week, while ETH ETFs attracted $816 million, higher than the $693 million seen the week prior.
The U.S. spot Bitcoin and Ethereum ETFs combined accumulated approximately $3.3 billion and $1.8 billion in net inflows, respectively, their highest levels since last October. Assets under management (AUM) also grew substantially, with BTC ETF AUM increasing by 27.9% to $97.6 billion as of August 28, while ETH ETF AUM rose 48.9% to $15.2 billion.
U.S. spot exchange-traded funds saw a significant surge in inflows, driven by strong tech earnings and resilient service PMI data. However, the Fed Chair's speech led to a short-term increase in U.S. Treasury yields, with the two-year note reaching 4.35% from Thursday's 4.23%.