Spot Bitcoin ETF Sees Net Positive Flow While ETH Records Outflow

IconCryptoNewsTerminal Staff16 Aug, 2024

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Spot Bitcoin ETF Sees Net Positive Flow While ETH Records Outflow

The U.S. spot Bitcoin (BTC) ETF saw a net inflow of $35.9 million on Tuesday, according to data from SpotOnChain. This marks a reversal from the previous day, when the spot BTC ETF recorded a net outflow of $14.4 million. Fidelity's FBTC saw a net inflow of $61.3 million, while Grayscale's GBTC saw a net outflow of $72.9 million. On the same day, the ETH spot ETF recorded a net outflow of $15 million. BlackRock's ETHA and Fidelity's FETH recorded net inflows, while the rest either saw no inflows or net outflows. The inflows into the spot BTC ETF suggest that investors are becoming more bullish on Bitcoin. The outflows from the ETH spot ETF, on the other hand, could be due to investors taking profits or rotating into other assets.

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