Bitcoin spot exchange-traded funds (ETFs) recorded their strongest single-week inflow since mid-April, attracting $853.54 million in the first week of August. This followed a rise in Bitcoin’s price, which climbed from $62,200 to $65,400 during the same period. Ethereum ETFs also saw significant activity, with $245 million in inflows reported for the week.
The surge in Bitcoin ETF inflows contrasts sharply with earlier struggles in 2024, when Bitcoin ETFs faced outflows of $2.4 billion in May, $4.5 billion in June, and $172.43 million in July. Ethereum ETFs, however, showed resilience, with $365 million in net inflows for July and total inflows rising to $11.46 billion.
Fidelity’s Ethereum ETF reportedly offers investors staking opportunities and quarterly cash payouts, a feature that may have contributed to its appeal. Meanwhile, Italy’s largest bank reportedly reduced its exposure to IBIT by 94% while increasing its staked Ethereum holdings, though the rationale for this shift remains unclear.
Ethereum’s price rose 3% weekly, reaching $1,920, as ETF inflows continued to grow. The performance of both Bitcoin and Ethereum ETFs highlights renewed investor interest in crypto assets, despite ongoing uncertainties about the drivers of price movements.
Written by Oliver Grant
Markets Desk
