Tuesday’s product table did not merely stay green — it got louder. U.S. spot Bitcoin ETFs booked a $211.5 million net inflow on August 4, per Farside Investors (the same series mirrored on SoSoValue). BlackRock’s IBIT alone took in +$170.3 million. That is the second straight creation day after Monday’s +$170.1 million, and it is the larger of the two. Spot finally moved with the cash: BTC/USDT on Crypto.com Exchange settled Tuesday at $64,103.07, about $583 above Monday’s $63,520.01. As of about 15:22 UTC on August 5 the pair last traded near $64,499. That mark is still intraday on a forming daily candle.
Two green days, one fund carrying the bag
Stack Monday and Tuesday and the primary market has created roughly $381.6 million of net share demand in two U.S. cash sessions. That fully covers the −$265.4 million redemption print on July 31 and leaves about $116 million on top. Concentration is the sharper detail: IBIT’s +$170.3 million is about 80% of Tuesday’s total. Fidelity’s FBTC added +$19.6 million, ARK 21Shares’ ARKB +$9.2 million, Bitwise’s BITB +$8.7 million, and MSBT +$3.7 million. Every other listed line sat at zero. No fund printed a net redemption.
Primary-market flow counts creations and redemptions of ETF shares, not every secondary trade on the tape. A $211.5 million day is real demand from authorized participants; it is also still modest against June’s multi-billion drains and does not rewrite 2026’s cumulative net picture. Farside’s lifetime total still sits near $51.8 billion of net creations across the complex. The useful read is narrower: cash came back on Monday, and it came back larger on Tuesday, with the bid still centered on the flagship wrapper.
Spot finally co-moved
Monday’s flow day finished almost flat. Tuesday did not. The settled close climbed from $63,520.01 to $64,103.07, with the session ranging about $63,318–$64,550 on Crypto.com 1D data. That is a clean step higher after Friday’s $62,897.98 washout and the weekend hold in the low-$63Ks. The Friday-to-Tuesday path is the full shape: flush, grind, then a two-day primary-market bid that finally lifted the daily close above $64,000.
Wednesday’s open candle (still forming) has already pushed through Tuesday’s high, printing $64,757 before easing back. The last trade near $64,499 around 15:22 UTC is description of an unfinished session, not a settled close. Ethereum moved less dramatically: ETH/USDT settled Tuesday at $1,869.73 after Monday’s $1,860.45, and as of the same Wednesday window traded near $1,876. The lead instrument today remains the ETF line and the Bitcoin settle, not the ETH/BTC cross.
Chart: price steps up, mood still cold
The series pairs settled daily closes (and Wednesday’s still-forming candle) with the Crypto Fear & Greed Index. Price rebuilt from Friday’s step down through the weekend and then cleared $64K on Tuesday’s close. The mood gauge barely moved.
BTC price vs the Crypto Fear & Greed Index, July 29–August 5. The August 5 point is an intraday read as of ~15:22 UTC, not a settled close. Sources: Crypto.com Exchange 1D candles and alternative.me.
Fear still, and a small product exits
The composite printed 25 (Extreme Fear) on August 4 even as creations ran $211.5 million, then ticked only to 27 (Fear) on August 5. Two strong flow days did not thaw the gauge. Fear & Greed lags volatility, volume, social chatter, and surveys; it can sit cold while authorized participants create shares. Treat the gap as information, not a puzzle that needs forcing shut.
On the product side, the complex is also shedding its smallest U.S. spot wrapper. Hashdex announced it will close and liquidate the Hashdex Bitcoin ETF (NYSE Arca: DEFI), which held about $14.7 million of assets as of July 30. Last trading day on NYSE Arca is August 17, with a cash liquidating distribution expected around August 28. That is a scale story, not a demand story for the whole complex: DEFI never gained traction while IBIT absorbed the bulk of this week’s creations. Flows concentrating in the largest fund and the smallest fund winding down can sit in the same week without contradicting each other.
Takeaway
Keep three numbers in separate columns: +$211.5 million of U.S. spot Bitcoin ETF net creations on August 4, a Tuesday spot settle of $64,103, and Fear & Greed still near 27. Add Monday’s +$170.1 million and you have two consecutive creation days that more than reverse Friday’s flush in dollar terms, with IBIT still doing most of the work. Description only — not a recommendation. Read the print as two sessions of primary-market demand and a spot close that finally stepped higher, not a verdict on the rest of August.
