On Monday, daily net inflows into US spot bitcoin ETFs were $61.98M. Total transaction volume was $779.87M, the third lowest since debut. This is a huge decrease from the $5.24B trade on August 6.
Market confidence has been poor following recent sell-offs. Summer vacations and lessened recession concerns have investors looking for Fed signals at the next Jackson Hole meeting.
BlackRock's IBIT topped inflows with $92.68M, while Bitwise's fund had withdrawals of $25.72M. Spot ether ETFs saw their lowest daily activity since its inception, totaling $124M, with net outflows of $13.52M.
Traditional finance is wary of ETH ETFs due to staking legal concerns. Solana's ETF filings were removed as a result of SEC debates concerning its security designation.
Bitcoin is trading at around $60K, while ETH is trading at the $2.6K level. Bitcoin currently balances supply concerns with a stronger macro mood. On the other hand, ETH continues to struggle with lower mainnet use than Layer 2 solutions.
