Spot Bitcoin exchange-traded funds experienced a reversal in investor sentiment during the opening week of August, posting net inflows totaling approximately $853.5M across five consecutive trading sessions from August 3 through August 7. This marked a significant shift from the previous week, when the products had recorded $61.5M in net outflows. BlackRock’s IBIT led the rally, attracting an estimated $693M, or roughly 81% of the category-wide inflows.
Daily inflows varied throughout the five-session streak, beginning with $170.1M on August 3 and reaching a peak of $244.4M on August 5 before moderating to $98.85M by August 7. Bitcoin price action remained constrained below $65,000 for much of the period, with ETF demand providing support around the $64,000 level. By the Monday morning trading session following the streak, Bitcoin had broken through $65,000, trading at $65,200, representing a gain of 0.8% from the prior day.
Other Bitcoin ETF products contributed modestly to the inflows, with Fidelity’s FBTC adding $40.95M, while Bitwise’s BITB and ARK 21Shares’ ARKB contributed $2.11M and $1.94M respectively. Several funds recorded outflows during the period, including Invesco and Galaxy’s BTCO with $19.37M in withdrawals, VanEck’s HODL with $10.55M in outflows, and Hashdex’s DEFI with $2.94M in withdrawals. Overall, spot Bitcoin ETF net assets reached $79.50Bn by the end of August 7.
The five-day inflow total of approximately $853.5M far exceeded July’s performance, representing nearly five times the approximately $172.4M collected during the entire month of July. Ethereum ETFs also attracted capital during the same period, drawing approximately $244.9M in net inflows from August 3 through August 7. Ethereum ETF net assets reached approximately $10.74Bn, while combined Bitcoin and Ethereum ETF inflows for the week totaled nearly $1.10Bn. Smaller cryptocurrency ETF categories showed considerably less demand during the week.
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