Bitcoin ETFs attract $517 million, BlackRock leads

US spot Bitcoin ETFs attracted $517 million in new investments on August 19. BlackRock is responsible for the largest share, with $285 million through its IBIT fund. At the same time, $189 million is flowing into Ethereum ETFs, of which $122 million goes to BlackRock’s ETHA fund. At the time of writing, Bitcoin stands at $71.8K, up 11.7% over the past 24 hours.

Bitcoin is available at OKX and Bybit.

In short:

• Spot Bitcoin ETFs received $517 million in inflows on August 19, with BlackRock leading at $285 million.
• Spot Ethereum ETFs attracted $189 million, of which $122 million went to BlackRock’s ETHA.
• Bitcoin rose 11.7% in 24 hours and stands at $71.8K.

BlackRock dominates the ETF inflow figures

The $517 million inflow on August 19 marks a notable increase compared with the $298 million that came in on August 17. BlackRock, the world’s largest asset manager, once again confirms its dominant position on the US spot crypto ETF market.

With $285 million, BlackRock’s IBIT fund accounts for more than half of the total Bitcoin ETF inflow that day. Total assets under management in US spot Bitcoin ETFs now stand at $84.31 billion, as shown in SoSoValue’s chart.

Ethereum ETFs follow Bitcoin’s pattern

Ethereum ETFs are also benefiting from increased risk appetite among investors. The total inflow of $189 million is striking, with BlackRock’s ETHA setting the tone at $122 million. Earlier, Bitcoin ETFs had also attracted $189 million in a previous session, but that amount has now reached the Ethereum market.

The strong inflow figures coincide with a sharp rise in the price of Bitcoin. Bitcoin had already approached the $70.000 mark earlier and now trades at $71.8K, a gain of 11.7% in a single day. Whether the inflows are driving the price or vice versa is difficult to determine, but the two developments clearly reinforce each other.