Spot Bitcoin exchange traded funds kicked off August with strong momentum, attracting more than $170 million in net inflows on Monday following a difficult finish to the previous week and month.
The impressive performance made Bitcoin ETFs the best performing crypto investment products for the day. The amount of new capital was nearly equal to the total net inflows recorded throughout July, which stood at $172.42 million.
The fresh demand also coincided with a sharp recovery in Bitcoin’s price. After falling to around $62,200, the cryptocurrency rebounded to approximately $64,000 during Monday’s trading session, suggesting ETF demand may have helped support the rally.
Ethereum ETFs, which had outperformed Bitcoin products during July with more than $365 million in net inflows, experienced a reversal on Monday. According to SoSoValue data, the funds recorded net outflows of $11.42 million.
XRP ETFs posted a modest gain of $1.15 million in net inflows, extending their streak of positive daily flows. The last session in which XRP funds recorded net outflows was July 8.
Meanwhile, Solana and Dogecoin ETFs reported no notable activity, continuing a trend of limited investor interest and infrequent capital inflows.
The spot HYPE ETFs also remained under pressure. Once among the strongest performing crypto funds, they extended their losing streak with nearly $1 million in net outflows on Monday. The products have not recorded a positive day since July 15.#crypto#cryptonews https://coinsignals.net https://t.me/coinsignalpublic
