Spot Bitcoin ETF Marked Significant Inflows on August 8, 2024

Spot Bitcoin ETF marked significant inflows on August 8, 2024, with an accumulated figure of $194.6 million. BlackRock’s IBIT reported the maximum inflows of $157.6 million.

Cryptocurrency exchange-traded funds (ETFs) saw mixed flows on Tuesday, with BlackRock’s IBIT leading the pack and Grayscale’s GBTC experiencing the only outflow.

According to data from ETF Flows, IBIT saw the highest inflows of $157.6 million. The ETF, which tracks the spot price of Bitcoin, has now seen 10 consecutive days of inflows, totaling $1.1 billion.

Other ETFs that saw inflows include Fidelity’s FBTC ($65.2 million), ARK Innovation ETF (ARBK) ($32.8 million), and BTC Bright燭wick ETF (BTCW) ($118.5 million).

On the other hand, Grayscale’s GBTC saw outflows of $182.9 million. The ETF, which tracks the net asset value of Grayscale’s Bitcoin Trust, has now seen outflows for 24 consecutive days, totaling $2.2 billion.

The total inflows for all crypto ETFs on Tuesday amounted to $200.1 million, while the outflows stood at $182.9 million.

Among the other ETFs, SPDR S&P Biotech ETF (XBI) saw outflows of $300.4 million, iShares Core U.S. Aggregate Bond ETF (AGG) saw inflows of $2.1 billion, and Invesco QQQ Trust (QQQ) saw inflows of $2.4 billion.

The broader market closed mixed on Tuesday, with the Dow Jones Industrial Average rising by 200 points, the S&P 500 index slipping by 0.1%, and the Nasdaq Composite index adding 0.2%.

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