Home » Bitcoin News Today: BlackRock IBIT Drives Five-Day BTC ETF Inflow Streak

Bitcoin News Today: BlackRock IBIT Drives Five-Day BTC ETF Inflow Streak

by John Paterson


In Bitcoin news today, US-listed spot Bitcoin ETFs recorded approximately $853.5M in net inflows across five consecutive trading sessions from Aug. 3 through Aug. 7, reversing the prior week’s withdrawals, according to CoinGlass data. BlackRock’s IBIT accounted for an estimated $693M of that total, or roughly 81% of category-wide inflows.

Bitcoin remained below $65,000 during the five-day streak. ETF demand supported the $64,000 area, but had not produced a confirmed breakout until now. This Monday morning trading session begins with BTC USD trading +0.8% since yesterday, breaking through $65K to trade at $65,200.

Last week’s ETF inflows for Bitcoin are a bullish sign for the market, and if this week continues in the same vein, it could provide the platform for a broader upside move across crypto through August.

Bitcoin News Today: Five Straight Inflow Days Bullish for BTC

Spot Bitcoin ETFs opened the period with $170.1M in net inflows on Aug. 3, followed by $211.5M on August 4. Inflows reached $244.4M on August 5, the strongest session of the week, before easing to approximately $128.8M on August 6 and $98.85M on August 7.

Together, the five daily results totaled approximately $853.5M, with the precise total depending on rounding. The run represented a roughly $915M swing from the previous week, when the products recorded $61.5M in net outflows.

The streak followed a volatile end to July. Data shows that investors withdrew approximately $265M from the funds on July 31, including $123M from IBIT and $54.8M from Fidelity’s FBTC.

August’s five-session inflow total was already nearly five times the approximately $172.4M collected during all of July. It was about 395% higher than July’s full-month result after only five trading sessions.

In Bitcoin news today BTC ETFs drew $853.5M in five sessions, led by BlackRock's IBIT, as Bitcoin broke through $65K this morning

(SOURCE: CoinGlass)

Bitcoin News: IBIT Accounted for Most of the Demand

IBIT attracted an estimated $693M over the five sessions, accounting for roughly 81% of total spot Bitcoin ETF inflows. The fund added $86.71M on Aug. 7 alone.

FBTC was the next-largest contributor over the week, with $40.95M in inflows. Bitwise’s BITB and ARK 21Shares’ ARKB added $2.11M and $1.94M, respectively.

Several funds recorded withdrawals during the same period. Invesco and Galaxy’s BTCO saw $19.37M in outflows, VanEck’s HODL lost $10.55M, and Hashdex’s DEFI recorded $2.94M in withdrawals. Those outflows were offset by inflows into other products, led by IBIT.

Total spot Bitcoin ETF net assets reached $79.50Bn by the end of August 7, equal to approximately 6.10% of Bitcoin’s market capitalization. Cumulative net inflows since launch stood at $52.18Bn, while the products generated $1.57Bn in daily trading value.

In Bitcoin news today BTC ETFs drew $853.5M in five sessions, led by BlackRock's IBIT, as Bitcoin broke through $65K this morning

Ethereum ETFs Added to the Weekly Total

In non-Bitcoin news, US spot Ethereum ETFs attracted approximately $244.9M from Aug. 3 through Aug. 7, bringing combined Bitcoin and Ethereum ETF inflows to nearly $1.10Bn for the week.

Ethereum ETF products began the period with an $11.42M outflow on August 3. They then added $53.75M on Aug. 4, $60.86M on August 5, $92.15M on Aug. 6, and $49.60M on Aug. 7.

BlackRock’s ETHA collected $50.34M on Aug. 5, $81.14M on Aug. 6, and $38.15M on August 7. The Aug. 6 inflow coincided with Ethereum holding above $1,900 and approaching the $2,000 psychological level.

Total Ethereum ETF net assets reached approximately $10.74Bn, representing 4.65% of Ether’s market capitalization. As of today, ETH USD is trading for $1,920, up +0.8% over the past 24 hours.

In Bitcoin news today BTC ETFs drew $853.5M in five sessions, led by BlackRock's IBIT, as Bitcoin broke through $65K this morning

(SOURCE: CoinGlass)

Smaller Crypto ETF Categories Saw Limited Flows

Smaller crypto ETF categories did not show comparable demand during the week. HYPE products recorded roughly $1M in positive flows on August 5 and $2.84M on August 6.

XRP funds finished slightly negative after a $3.58M withdrawal on August 5 offset the $1.15M attracted on Aug. 3. Solana ETFs were broadly flat, with a $1M inflow on Aug. 4 largely canceled by an $859,500 withdrawal on August 6.

The figures showed that regulated crypto investment demand during the opening week of August was concentrated in Bitcoin and Ethereum products.

EXPLORE: Best Crypto Presales With Asymmetric Upside in the Current Market

Follow 99Bitcoins on X For the Latest Market Updates and Subscribe on YouTube For Daily Expert Market Analysis.

The post Bitcoin News Today: BlackRock IBIT Drives Five-Day BTC ETF Inflow Streak appeared first on 99Bitcoins.





Source link

Related Posts

Leave a Comment