Bitcoin spot exchange-traded funds (ETFs) experienced a significant influx of $194.6 million on Thursday, according to Fireside Investors.
BlackRock iShares Bitcoin ETF (ticker: “IBIT”) led the inflow with $157.6 million, bringing its assets under management (AUM) to over $22 billion. Fidelity Wise Origin Bitcoin ETF (ticker: “FBTC”) saw $65.2 million in new investments. However, the Grayscale Bitcoin Trust continued to face outflows.
Trading volumes for Bitcoin ETFs soared above $1 billion on August 5, reflecting increased trading activity amid a market downturn.
Alex Thorn, head of research at Galaxy Digital, noted that the trading volumes for Bitcoin ETFs were “extremely elevated” following the market pullback.
Crypto Market Volatility Spurs Trading Surge
On Tuesday, Binance, the world’s largest cryptocurrency exchange, reported a net inflow of $1.2 billion in just 24 hours, marking one of the highest inflow days this year. This surge in inflows and activity highlights strong investor confidence in the cryptocurrency sector despite ongoing volatility.
Earlier this week, Bitcoin’s price fluctuated dramatically, falling from around $61,000 to as low as $49,000. By Friday, Bitcoin had rebounded to around $60,000 following the recent sell-off.
Global stock markets also showed signs of recovery, reversing some of the losses from earlier in the week. Japan’s Nikkei, which had dropped more than 12% on Monday—its worst loss since 1987—has since started to bounce back, although some volatility remains.
