After a painful end to the previous week (and month), the spot Bitcoin ETFs began August with a bang, attracting over $170 million in net inflows. This made them the best-performing exchange-
After a painful end to the previous week (and month), the spot Bitcoin ETFs began August with a bang, attracting over $170 million in net inflows.
This made them the best-performing exchange-traded funds tracking any cryptocurrency on Monday, which has not always been the case lately.
The fresh capital that entered the BTC funds on Monday is almost the same as the entire net positive for July, which was $172.42 million. At the same time, the underlying asset rebounded from another dip to $62,200, and jumped to $64,000 in midday trading.
In contrast, the Ethereum ETFs far outperformed in July, attracting more than $365 million last month. However, SoSoValue data shows that the financial vehicles tracking the largest altcoin were actually in the red on Monday, losing $11.42 million.
The XRP ETFs gained a modest $1.15 million, but extended their non-red streak, as the last day with more withdrawals was July 8.
The Solana funds saw no reportable action, similar to those tracking Dogecoin, but that’s no surprise since they have rarely seen any actual inflows.
The spot HYPE ETFs, which were once the top-performing crypto funds, are on a painful streak. The last time they were in the green was July 15. On Monday, the ETFs lost nearly $1 million again.
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