The overall ETF sector has reportedly seen a positive sentiment in terms of inflows. Spot On Chain, a prominent on-chain analytics provider, noted that Bitcoin ETFs saw $28 million in net inflows while Ethereum ETFs witnessed net inflows of up to $5 million on August 12. The analytics platform took to its official social media account to offer insights into the individual flows of the ETFs.
Bitcoin and Ethereum ETFs Begin the Week with Positive Flows
In its latest X post, Spot On Chain suggested that the respective positive shift occurs following fluctuating market sentiment. It added that this development offers hope to the investors who are pursuing indications of stability in the market. Bitcoin ETFs have seen an upsurge of up to $28M cumulatively on the 12th of August. This marks a substantial recovery following the recent volatility.
Notably, the 21Shares Bitcoin ETF (ARKB) experienced a remarkable inflow of nearly $35.4 million. The respective move denotes a resilient display of confidence in the exchange-traded fund. 21Shares has reportedly been gaining significant popularity among investors due to its strategic positioning within the crypto market. Just after that, BlackRock Bitcoin ETF (IBIT) saw a huge inflow of almost $13.4 million. BlackRock has obtained a prestigious status within the financial world.
It has been continuously attracting investor interest. In this respect, the new inflow offers a testament to an increasing confidence in BTC for long-term investment. On the other hand, Grayscale’s Bitcoin Trust (GBTC) has been going through massive outflows recently. Nevertheless, on the 12th of this month, the ETF recorded a minor outflow of just $11.8M. The respective sharp slump in its outflows points toward the likely ease in the selling pressure. This may lead to a change in the sentiment.
The Latest ETF Inflows May Lead to a Broader Sentiment Shift
Ethereum ETFs additionally beheld a positive day. The cumulative inflow in the ETH ETFs reached $5M on August 12. Grayscale’s Ethereum Trust (ETHE) has been experiencing scrutiny because of continuous outflows. Nonetheless, the exchange-traded fund recorded a noteworthy improvement. Overall, the ETH ETFs’ net flow has turned somehow positive following negative flows for 3 consecutive days. Spot On Chain implied that these positive flows may lead to a sentiment shift.
