Bitcoin ETF Inflows Surge As Grayscale Mini Trust Sees $191M Influx
Highlights
- On Thursday, Bitcoin ETFs registered significant inflows with Grayscale's ETF leading the pack.
- However, Grayscale's ETH ETF is off to a sluggish start with $2 billion outflows since inception.
- Meanwhile, Bitcoin is fighting market volatility amid options expiry.
The spot Bitcoin ETFs have once again gained considerable traction today, recording noteworthy inflows. Grayscale’s Mini BTC Trust ETF has notably led the pack with a whopping $191 million influx. Meanwhile, the spot Ether ETFs continued to encounter market turbulence, with Grayscale’s ETH ETF conversely recording continued outflows. Whilst, BTC saw quite the volatility in the interim, sparking further discussions.
Bitcoin ETFs Record Millions In Inflows
Data by FarsideUK indicates that the spot Bitcoin ETFs recorded $50.6 million in inflows as of August 1. Grayscale’s new mini BTC ETF, boasting the lowest trading fees, recorded a whopping $191.1 million in inflows. Simultaneously, BlackRock’s IBIT registered $25.9 million in inflows as of the same date.
However, Fidelity’s FBTC recorded $48.4 million in outflows, further accompanied by Bitwise’s BITB $20.7 million, Ark 21Shares’ ARKB $22.4 million. However, Grayscale’s GBTC witnessed $71.3 million outflows owing to exorbitant 1.5% fee. GBTC price traded at $50.53 in pre-market trading today, a slip of 2.96% at close.
Besides, t’s also worth mentioning that Grayscale’s Ethereum ETF (ETHE) saw $78.8 million in outflows as of August 1, pushing the total outflows to over $2 billion. Nonetheless, a potential shift in market sentiment might be looming as the ETHE outflows appear to be slowing down.
Also Read: Kamala Harris Campaign Makes First Move For Pro-Crypto Shift
BTC Price Volatility Despite ETF Inflows
Meanwhile, BTC has encountered quite the turbulence over the past day despite inflows in Bitcoin ETFs. BTC price traded at $64,352 today, up slightly by 0.09%. Its 24-hour lows and tops are $62,248.94 and $65,593.24, respectively.
The recent volatile movement comes against the backdrop of massive $2.5 billion liquidations as BTC slipped below $63,000. However, on-chain data also spotlights significant accumulations over the past day. Also, 37,000 Bitcoin options expiry is scheduled for today, increasing uncertainty.
Besides, it’s worth mentioning that Microstrategy announced plans to file for a $2 billion equity offering to buy more Bitcoin, igniting optimism over future movements. Also, Coinbase beat its Q2 earnings estimates, offering further bullishness to the crypto industry and related financial products.
Intriguingly, institutional interest in Bitcoin also saw a notable increase in Q2 this year, as spotlighted by market data revealing institutions’ BTC holdings. Mercado Libre and BNY Mellon, among many other renowned institutions, revealed exposure to Bitcoin in recent 13F filings, stirring further optimism.
Also Read: Crypto Prices Today August 2: Bitcoin at $64K, Altcoins Witness Mixed Trends
- Bitcoin Edges Higher as Fed Chair Jerome Powell Fails to Comment on Monetary Policy
- Flare Network Surpasses $43M in Bridged XRP, Expert Predicts Breakout to New ATH
- Bitcoin, Ethereum Drag Broader Crypto Market Lower Ahead of FED Powell Speech
- Breaking: Ripple Partners With Bahrain’s Fintech Bay in Push for RLUSD Adoption
- XRP News: Why Whales Sold 440M Coins in a Month Despite ETF Launch Buzz
- Solana Price Prediction as SOL DAT Company Plans 5% Supply Acquisition—Analyst Targets $1,300 Breakout
- Bitcoin Price Prediction as US Govt. Shutdown Extends- What’s Next for BTC?
- Solana Price Megaphone Points to a Parabolic Move as SOL Treasuries Near $3B
- XRP Price Prediction Amid ETF Approval Roadblock as Analyst Warns of $2.72 Dip
- Binance Coin Price Prediction If It Surpasses Bitcoin Marketcap— Is $3000 Possible in 2025?
- ASTER vs HYPE Price Analysis – Which Perp DEX Token Looks Poised to Dominate Q4 Performance?
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
