US Spot Crypto ETFs Represent Nearly 1.9% of Total Global Flows Year-to-Date
Aug 22, 2024 am 12:03 AM
Share this article Spot crypto exchange-traded funds (ETF) in the US represent nearly 1.9% of the total global flows year-to-date, with BlackRock's IBIT and Fidelity's FBTC among the Top 15.
Key Takeaways:
- Spot crypto ETFs in the US account for nearly 1.9% of total global ETF flows year-to-date.
- BlackRock's IBIT and Fidelity's FBTC are among the Top 15 ETFs by inflows.
- IBIT ranks third with about $20.5 billion in flows, while FBTC has garnered $9.8 billion.
- US-traded spot Bitcoin ETFs have attracted $17.5 billion in net flows in 2024.
- Spot Ethereum ETFs, on the other hand, have seen outflows of $440 million.
- Despite the recent price crash, Bitcoin ETFs have maintained positive net flows on daily, weekly, and monthly timeframes.
- BlackRock's Ethereum ETF ETHA crossed the $1 billion mark in inflows on Friday.
- Bitfinex analysts attribute the varying performance of Bitcoin and Ethereum ETFs to several factors, including the regulatory environment, market conditions, and the underlying asset's price action.
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