IBIT Spearheads $217M Bitcoin ETF Recovery While Alternative Crypto Funds Maintain Momentum
Spot Bitcoin ETFs in the United States saw a return to positive territory with $216.7 million in net inflows on Monday, driven primarily by BlackRock's IBIT, which contributed approximately 95% of the total.
Spot Bitcoin exchange-traded funds (ETFs) listed in the United States made a comeback to positive flows on Monday, with BlackRock shouldering nearly the entire load, as Ether, XRP and Solana funds maintained their momentum in attracting investor capital.
Data from SoSoValue revealed that Bitcoin ETFs registered $216.7 million in net inflows on Monday, bouncing back from the $201.8 million in outflows seen on Friday.
The outflows on Friday put an end to a nine-session streak that had pulled in excess of $3 billion to the funds. Bitcoin (BTC) was hovering around $78,700 at the time of publication, showing an increase of approximately 1.5% during the preceding 24 hours, based on CoinGecko data.
At the same time, Ether ETFs pushed their inflow streak to 11 consecutive trading sessions, while XRP and Solana funds both marked a 10th straight positive session.
BlackRock responsible for 95% of Bitcoin ETF inflows
The iShares Bitcoin Trust ETF (IBIT) from BlackRock spearheaded Monday's Bitcoin ETF recovery with $205.9 million in net inflows, representing roughly 95% of the category's total for the day, based on data from Farside Investors.
The Wise Origin Bitcoin Fund (FBTC) from Fidelity contributed $6.9 million, with the Bitwise Bitcoin ETF (BITB) following at $4.3 million. The Bitcoin Trust from Morgan Stanley brought in $3.6 million, whereas Grayscale's Bitcoin Mini Trust saw $9.4 million in inflows.
The Bitcoin ETF (HODL) from VanEck stood as the sole fund experiencing withdrawals, logging $13.4 million in net outflows. The rest of the funds showed no movement in flows.
Ether, XRP and Solana ETFs continue inflow sequences
Spot Ether ETFs pulled in $87.7 million on Monday, representing their 11th consecutive trading session of positive inflows.
The iShares Ethereum Trust ETF (ETHA) from BlackRock dominated with $59.9 million, trailed by Grayscale's Ethereum Mini Trust at $13.5 million and Fidelity's Ethereum Fund at $9.3 million, per Farside data.
XRP ETFs pushed their winning streak to 10 sessions with $5.64 million in net inflows, based on SoSoValue figures. The funds have drawn capital throughout each US trading session beginning Aug. 18.
Solana ETFs similarly recorded a 10th consecutive positive session, although daily inflows decelerated to $925,010 from $18.1 million on Friday. The Monday figure represented the category's most modest inflow throughout its present run.