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US Spot ETF Flows: Bitcoin Outflows, Ethereum Inflows on August 5
In a dramatic shift in investor sentiment, the US spot exchange-traded funds (ETFs) recorded contrasting flows on August 5. According to recent data, Bitcoin witnessed a net outflow of 1,710 BTC, valued at approximately $196 million. On the other hand, Ethereum ETFs saw significant net inflows of 19,710 ETH, worth around $73 million.
A closer examination reveals that BlackRock’s spot Ethereum ETF stood out with purchases of an astonishing 23,870 ETH, translating to a whopping $88.8 million. This stark contrast in investor behavior suggests a marked shift in sentiment, as Bitcoin faces withdrawals while Ethereum sees increased interest.
The data highlights the ongoing market volatility in the crypto sector, where investors are increasingly focusing on Ethereum amid uncertainty and speculation surrounding other assets.
Source: coinpedia.org
