- iShares Bitcoin Trust (IBIT) reported weekly net inflows of $887.7 million.
- Meanwhile, ARK 21Shares Bitcoin ETF (ARKB) saw net outflows of $183.9 million.
Crucially, the weekly inflows reversed a significant portion of $1.332 billion net outflows from the first three trading sessions of the month. As of August, the US BTC-spot ETF market outflows have eased to $11.5 million. IBIT continued to dominate the spot BTC ETF space, with month-to-date inflows in excess of $1 billion.
ETH Extends Losing Streak Despite Spot ETH ETF Inflows
While the US BTC-spot ETF market bolstered BTC demand, ETH-spot ETF flows continued to impress. Ethereum fell 0.41% on Saturday, August 16, following a 2.34% loss in the previous day, closing at $4,426. Notably, ETH extended its losing streak to three sessions.
Investors likely locked in profits after striking $4,793 on August 14, the highest level since November 2021.
However, the US ETH-spot ETF market reported weekly net inflows of $2.852 billion, signaling robust demand. Notably, BlackRock’s iShares Ethereum Trust (ETHA) saw net inflows of $2.317 billion, also dominating the spot ETH ETF market.
Nate Geraci, President at Nova Dius Wealth, highlighted ETHA’s market presence, stating:
“Nearly $340mil into iShares Ethereum ETF yesterday… Now 9-day inflow streak w/ $2.8bil new $$$. Over past *75* trading sessions, ETHA w/ only 4 days of outflows. $8bil new $$$ total. Historic numbers for a 1-year old ETF.”