11 spot Bitcoin exchange-traded funds (ETFs) in the US recorded $216.33 million in net inflows on Tuesday, marking their third consecutive day of positive flows.
US Spot Bitcoin ETFs Post $216 Million in Net Inflows, Maintaining Positive Flow Streak
This trend highlights growing investor interest and confidence in Bitcoin despite recent market volatility.
BlackRock's IBIT, the largest spot Bitcoin fund by net asset value, led inflows with $121.03 million. Fidelity's FBTC followed with a net inflow of $90.95 million, according to SoSoValue data.
Additionally, Ark Invest and 21Shares' ARKB saw inflows of $43.3 million, while VanEck's bitcoin fund reported $3.27 million.
In comparison, the second largest Bitcoin ETF, Grayscale's GBTC, experienced an outflow of $37.5 million. Bitwise's BITB also reported net outflows of $4.72 million.
On Tuesday, a total of $1.19 billion was traded across 11 spot Bitcoin funds. Since their inception in January, these ETFs have recorded total net inflows of $15.27 billion.
Bitcoin's price increased by 2.75% today, reaching up to $59,470. However, in the current situation, there was a decline in BTC again after the news that the German Government deposited Bitcoin to sell on the stock exchanges. The cryptocurrency was launched by crypto exchange Mt., which was dissolved last Friday. It had fallen to around $53,000 when Gox started moving its bitcoin for its $9 billion payment.
In a related development, US Federal Reserve Chairman Jerome Powell said in a speech on Capitol Hill on Tuesday that the US economy is no longer overheating and the labor market appears to be “fully back in balance.”
Investors now await key U.S. economic data later this week, with initial jobless claims and the consumer price index due on Thursday.
*This is not investment advice.
