The landscape of U.S.-based spot bitcoin exchange-traded funds (ETFs) has experienced a significant uptick, reaching an impressive valuation of approximately $58.4 billion in August. This surge is fueled by a sustained seven-day streak of positive inflows, culminating in a particularly robust performance on Friday.

Friday’s inflows marked the highest single-day increase within this streak, with a net inflow of $252 million. This represents the largest influx since July 22, as reported by SoSoValue data. Among the various funds, BlackRock’s IBIT ETF, the largest by total asset value, continued to dominate, securing an $87 million net inflow.

Fidelity’s FBTC ETF followed suit, recording inflows of $64 million, solidifying its position as a key player. Meanwhile, Grayscale’s GBTC, the second-largest ETF by asset value, diverged from the trend with a $35 million outflow, the only fund to do so. However, Grayscale’s Bitcoin Mini Trust (BTC) managed to attract $50 million in inflows, earning it third place.

Other notable inflows included Bitwise’s BITB, which saw a $42 million increase, while Ark and 21Shares’ ARKB registered $24 million. VanEck’s HODL ETF logged a $14 million rise, and Invesco’s BTCO and Valkyrie’s BRRR gained $3 million and $2 million, respectively. The remainder of tradable funds exhibited no significant changes.

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Spot Ether ETFs Suffer Prolonged Outflows

In stark contrast, spot ether ETFs are enduring a seven-day streak of net outflows, mirroring the inverse of bitcoin’s success. Friday alone saw an outflow of $5.7 million, bringing the total outflows since the streak began on August 15 to nearly $99 million.

Grayscale’s ETHE was hit the hardest, with a $9.8 million outflow on Friday, pushing the total net assets into the red. Conversely, VanEck’s ETHV managed to secure $2.0 million in inflows, while Bitwise’s ETHW netted $1.4 million. Fidelity’s FETH ETF logged approximately $700,000 in inflows, with other funds showing no significant asset changes.

Despite the ongoing outflows, the combined net assets of these ether funds remain at their highest level since August 2, buoyed by fluctuations in the price of ether, according to data from SoSoValue.

This divergent performance between bitcoin and ether ETFs highlights the ongoing volatility and differing investor sentiments within the cryptocurrency markets. As the landscape continues to evolve, these trends may offer valuable insights into broader market movements and investor strategies.