US-based spot Bitcoin exchange-traded funds have experienced an increase in value during the month of August, reaching a combined total of $58.4 billion.
This follows a seven-day streak of positive inflows that continued on Friday, which saw the largest inflow since the streak began.
This amounted to a net inflow of $252 million, the most since July 22, according to SoSoValue data.
The largest spot Bitcoin ETF, BlackRock's IBIT, contributed significantly to this increase, with a net inflow of $87 million. The second largest inflow was Fidelity's FBTC, with $64 million.
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The second largest ETF by asset value, Grayscale's GBTC, recorded an outflow of $35 million, while its Bitcoin Mini Trust (BTC) recorded an inflow of $50 million.
Bitwise's BITB received $42 million in net inflows, while 21Shares and ARK Invest's ARKB received $24 million. VanEck's HODL also saw a net increase of $14 million.
At the same time, it is worth noting that spot Ether ETFs have experienced seven consecutive days of net outflows.