On August 12, spot Bitcoin exchange-traded funds (ETFs) in the U.S. recorded net inflows of just $27.8 million.
According to Farside, Grayscale’s GBTC-converted fund and Bitwise’s BITB were the only ETFs to experience outflows for the day, with $11.8 million and $17.1 million, respectively.
BlackRock’s Bitcoin fund (IBIT) was one of three funds to see inflows, adding $13.4 million. ARKB was the best performer of the day, bringing in $35.4 million, while Hashdex’s DEFI registered $7.9 million.
On the other hand, spot Ethereum ETFs also posted positive results on Monday, with total inflows amounting to $5 million.
The largest inflow was recorded by Fidelity’s FETH, with $4 million, followed by Bitwise’s ETHW with $2.9 million and Franklin Templeton’s EZET with $1 million.
Interestingly, Grayscale’s ETHE, which had previously seen large outflows, registered a neutral result this time.
JPMorgan analysts are raising doubts about Bitcoin’s role as “digital gold” as demand for traditional gold continues to strengthen.
Cryptocurrency analyst Ali Martinez has raised concerns about Ethereum’s future performance against Bitcoin, suggesting a significant decline could be on the horizon.
The U.S. Bitcoin mining sector is gearing up for potential challenges after President Donald Trump announced new tariffs, set to take effect on April 5.
The crypto market is seeing increased support from various industries, with payment firms playing a key role in promoting digital assets.