Spot On Chain, a prominent entity offering on-chain analytics, reported significant changes in the US ETFs as of August 15. The exclusive statistics disclose opposing trends between Ethereum and Bitcoin as the BTC ETFs experienced positive inflows while ETH ETFs incurred substantial losses. The analytics provider unveiled the details of these flows on its official X account.
Bitcoin ETF Inflows Contrast with Ethereum ETF Outflows on August 15
Spot On Chain mentioned in its exclusive X post that the Bitcoin ETFs recorded a net flow of nearly $11 million. This development reportedly denotes a minor recovery following experiencing outflow a day before. This shift signifies a renewal of confidence among the investors regarding Bitcoin although the market conditions still express volatility. Among the 5 well-known US BTC ETFs, 4 witnessed noteworthy inflows in comparison with the previous trading day. On the other hand, the IBIT ETF of BlackRock presented an opposite development.
Despite its good reputation in the ETF market BlackRock could not make pace with the inflow momentum. However, the exchange-traded fund has still maintained a considerably stable position. The respective trend focuses on careful optimism in Bitcoin’s ETF market. Investors are gradually elevating their BTC exposure via exchange-traded funds.
Excessive Outflows from Ethereum ETFs May Denote Concerns about Short-Term Market Volatility
Contrarily, Ethereum ETFs incurred enormous outflows with a sharp reversal. These ETFs experience cumulative outflows of almost $39M worth. This points toward a major decline after consecutive positive flows for 3 days. Hence, it seems that the investor sentiment has gone through a shift. All the Ethereum ETFs in the US reported minor net flows on August 16 compared with August 15. As suggested by Spot On Chain, these outflows may denote concerns regarding short-term volatility.
Source: https://blockchainreporter.net/bitcoin-etfs-return-to-positive-with-11-million-inflows/