Spot bitcoin and ether ETFs saw their strongest daily inflows since May, erasing $2.7 billion in bearish positions amid a market rally.
Spot bitcoin exchange-traded funds attracted $517 million in net inflows on August 19, while ether funds pulled in $189 million, marking their largest single-day hauls in months. The surge coincided with a broader cryptocurrency rally that liquidated $2.7 billion in short positions across the market.
Prior to this, daily inflows had averaged below $200 million for bitcoin ETFs and under $50 million for ether funds over the past three months. The August 19 figures represent a sharp reversal from recent trends, with bitcoin ETFs alone surpassing their previous 30-day cumulative inflow total.
The rally followed a week of subdued trading volumes, with market participants citing macroeconomic optimism and reduced selling pressure from long-term holders as key drivers.