Grayscale’s Mini BTC Trust ETF Sees Impressive Inflows of $191 Million
BlackRock’s IBIT Attracts $25.9 Million in Investments
In a resurgence of popularity, spot Bitcoin ETFs experienced significant inflows today. Among them, Grayscale’s Mini BTC Trust ETF stood out with an incredible $191 million influx. On the other hand, spot Ether ETFs continued to face market volatility, with ongoing withdrawals from Grayscale’s ETH ETF.
According to data provided by FarsideUK, spot Bitcoin ETFs have received $50.6 million in investments as of August 1. Grayscale’s new mini BTC ETF, known for its lowest trading fees, attracted a massive $191.1 million. Additionally, BlackRock’s IBIT received $25.9 million on the same day.
Bitwise’s BITB lost $20.7 million, Ark 21Shares’ ARKB lost $22.4 million, and Fidelity’s FBTC lost $48.4 million. However, Grayscale’s GBTC saw an outflow of $71.3 million due to its high 1.5% charge.
On August 1, the cumulative outflows from Grayscale’s Ethereum ETF (ETHE) exceeded $2 billion, with $78.8 million being withdrawn. However, the outflows from ETHE have significantly slowed down, indicating a possible change in market sentiment.
While investments poured into Bitcoin ETFs, the cryptocurrency’s value remained highly volatile in the past day. BTC experienced massive liquidations of $2.5 billion when its price dipped below $63,000, leading to unpredictable volatility. Nevertheless, the price quickly rebounded and made brief gains. Currently, Bitcoin is trading at $64,720, showing a 0.59% increase in the last 24 hours according to CMC data.
It is worth noting that Microstrategy has announced its intention to file for a $2 billion equity offering to acquire more Bitcoin, which has instilled confidence in potential future developments.
In other news, there is speculation on how the upcoming token unlocking will affect Wormhole’s price.
