Spot Bitcoin exchange-traded funds (ETFs) in the United States are seeing significant investment inflows, recording their seventh consecutive day of net inflows on Tuesday. This increase in interest comes amid growing excitement over the potential approval of spot Ethereum ETFs.
Spot Bitcoin ETFs Experience Strong Inflows Amid Ethereum ETF Speculation
A total of $305.72 million was transferred to spot Bitcoin ETFs, according to data from multiple sources.
BlackRock's iShares Bitcoin Trust led the way, attracting $290 million of total inflows. Fidelity's Wise Origin Bitcoin Fund also had a positive impact, bringing in $26 million.
In contrast, Grayscale's transformed Bitcoin Trust, which experienced cumulative net outflows of $18 billion, recorded no net inflows on Tuesday.
Bitwise Bitcoin ETF and VanEck Bitcoin Trust were the only funds to see outflows, with net losses of $4 million and $6 million, respectively. Other spot Bitcoin ETFs did not report any inflows or outflows.
Since their introduction to US exchanges, spot Bitcoin ETFs have been extremely popular, generating total net inflows of $13.17 billion.
The recent success of spot Bitcoin ETFs has shifted the focus in the cryptocurrency and financial markets to the potential approval of spot Ethereum ETFs.
The US Securities and Exchange Commission (SEC) reportedly asked exchanges to amend their 19b-4 filings earlier this week, hinting at a possible move towards approval of these products.
*This is not investment advice.
