Quick Take
On August 8, Bitcoin surged to reclaim the $60,000 level, recovering significantly from its low of $49,000 on August 5.
Bitcoin
This recovery in bitcoin prices coincided with notable inflows into the Bitcoin ETF of $194.6 million, its largest since July 22. BlackRock’s IBIT saw $157.6 million inflows, its largest since July 29. Fidelity’s FBTC saw $65.2 million inflows, its largest since July 26. Meanwhile, Ark’s ARKB and WisdomTree’s BTCW saw inflows of $32.8 million and $118.5 million, respectively. However, Grayscale’s GBTC saw a significant outflow of $182.9 million, its largest outflow since April 8.
Ethereum
In contrast, Ethereum ETFs experienced outflows of $2.9 million. Grayscale's ETHE saw outflows fall by $19.8 million, while BlackRock's ETHA saw inflows of $11.7 million. Despite these figures, total Ethereum ETF outflows now stand at $390.6 million, according to Farside data.
Bitcoin ETF options are expected to launch in the fourth quarter, which could lead to even more market activity.
