When ETFs investing in US spot Bitcoin received $11.11 million in fresh money on August 15, they had a great day. Their previous day was awful. Spot Ethereum ETFs lost considerable money, hence stopping three days of expansion.
According to SoSoValue data, the twelve U.S. spot Bitcoin ETFs recovered following a modest decline. The biggest fresh money Fidelity’s FBTC attracted was $16.2 million.
With respectively $13.7 million and $6.2 million, the third project, BITB by Biwise and Grayscale, received Originally introduced, Grayscale’s most well-known product, GBTC, lost $25 million and has a net loss of $19.57 billion overall. Over the day, the flows in the other seven Bitcoin ETFs stayed somewhat constant.
Conversely, the nine Ethereum ETFs lost $39.21 million the reverse of the $10.8 million and $24.3 million they had previously acquired. With a huge $42.5 million ETHE, Grayscale dominated these outflows. It has lost $2.38 billion overall from the beginning. Conversely, just $2.5 million and $0.8 million entered Fidelity’s FESH and BlackRock’s ETHA, respectively.
With the other seven Ethereum ETFs, hardly anything was happening. Though money was leaving Ethereum ETFs, transaction volume surged and exceeded the daily total of $240.58 million. These monies have been net lost at $405.11 million.
Bitcoin Market Remains Steady As SEC Approves New Leveraged Fund
In parallel, the U.S. Securities and Exchange Commission approved Defiance, a U.S.-based ETF provider, to launch a new leveraged fund, MSTX. The fund seeks to give investors 175% daily MicroStrategy exposure. Its first trading day showed an amazing $22 million, maybe breaking a record.
Although this start piques the curiosity of many investors, the general Bitcoin market has remained rather steady, with just minor fluctuations in the values of the most significant cryptocurrencies.
Right now, Bitcoin is valued at $58,442. Early in the day, it dropped quickly below $57,000. Ethereum has also witnessed a small increase of 0.16% concurrently. Two more well-known cryptocurrencies, Aptos and Celestia, have also plummeted notably by 4.9% and 3.8%, respectively.
Market analysts, in particular, are closely observing these developments. Rekt Capital, a well-known Bitcoin analyst, posted on X on August 15, stating that BTC is now seeking support from the bottom of its trading channel. They claimed that maintaining the price at this level will boost the likelihood of the Bitcoin continuing to rise in the not-too-distant future.
As these developments occur, buyers and professionals must observe how Bitcoin and Ethereum ETFs operate and how the Bitcoin market is changing.
