• Historical net outflows from GBTC amount to $19.6 billion, as per the statistics.
  • With a current total net asset value of $54.35 billion, spot Bitcoin ETFs have been on a positive note.

Despite withdrawals in early August, demand in spot Bitcoin exchange-traded funds (ETFs) based in the US has persisted. Despite outflows in prior weeks, spot Bitcoin ETFs had a total weekly net inflow of $32.58 million on Aug. 16, according to data from SoSoValue. Net outflow of spot Bitcoin ETFs hit $169 million on August 9 after having dropped to $80.69 million on August 2.

Moreover, despite $72.9 million leaving the Grayscale Bitcoin Trust on August 16, the net inflow for spot Bitcoin ETFs reached $36 million. Although other spot Bitcoin ETFs are regularly receiving inflows of capital, GBTC has been suffering a persistent loss of capital.

Good Inflows Consistently

Historical net outflows from GBTC amount to $19.6 billion, as per the statistics. On the other hand, the Grayscale Bitcoin Mini Trust ETF maintained its total net inflows of $288 million on Aug. 16, as there was no net outflow.

On August 16th, the Fidelity Bitcoin Fund ETF received $61.3 million, which was the largest net inflow. The sum of all net inflows throughout its history now stands at $9.8 billion. On the same day, the iShares Bitcoin Trust ETF, which is managed by BlackRock , also had a substantial net inflow of $20.38 million, raising its entire historical total to $20.38 billion.

With a current total net asset value of $54.35 billion, spot Bitcoin ETFs have been receiving good inflows for some time. There is a current ETF net asset ratio of 4.65%, which shows that the market value of ETFs is 4.65% of Bitcoin’s total market value.

Highlighted Crypto News Today:

WazirX Restores Investor Balances After $234 Million Hack