Bitcoin reclaims $60K amid largest ETF inflow since July 22, led by BlackRock

Quick Take

On Aug. 8, Bitcoin surged to reclaim the $60,000 mark, a significant recovery from its low of $49,000 on Aug. 5.

Bitcoin

This resurgence in Bitcoin’s price coincided with notable inflows of $194.6 million into Bitcoin ETFs, marking the most significant inflow since July 22. BlackRock’s IBIT led the charge with a $157.6 million inflow, its largest since July 29. Fidelity’s FBTC saw an inflow of $65.2 million, the first since July 26, while Ark’s ARKB and WisdomTree’s BTCW recorded inflows of $32.8 million and $118.5 million, respectively. However, Grayscale’s GBTC experienced a significant outflow of $182.9 million, the largest since April 8.

Ethereum

In contrast, Ethereum ETFs experienced a $2.9 million outflow. Grayscale’s ETHE saw reduced outflows of $19.8 million, while BlackRock’s ETHA registered an inflow of $11.7 million. Despite these figures, total outflows for Ethereum ETFs now stand at $390.6 million, according to Farside data.

Bitcoin ETF options are expected to go live in Q4, potentially driving further market activity.

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