Spot Bitcoin ETFs See $187M Net Inflow, Marking Four Days of Consistent Inflow

US spot Bitcoin exchange-traded funds (ETFs) are experiencing a positive shift in investors’ sentiment after witnessing significant outflows over the past few weeks. 

According to data from SoSoValue, the 12 investment products saw a staggering single-day net inflow of $187 million on Tuesday, September 17, 2024. With Tuesday’s net inflow, the funds have seen positive flows for four straight trading days.

Fidelity Leads With $56M Net Inflow 

Fidelity Wise Origin Bitcoin Fund (FBTC) led the pack with a single-day net inflow of $56 million, bringing its historical net inflow to $9.70 billion. Following FBTC is Bitwise Bitcoin ETF (BITB) with a net inflow of $45 million, ARK 21Shares Bitcoin ETF (ARKB) with $42 million, and VanEck Bitcoin Trust (HODL) with $20.48 million.

Other beneficiaries for the day include Galaxy Bitcoin ETF (BTCO), Franklin Bitcoin ETF (EZBC), and WisdomTree Bitcoin Fund (BTCW), with $10 million, $8.74 million, and $3 million inflows, respectively.

The sell-off from Grayscale‘s Bitcoin Trust (GBTC) slowed, with the fund recording zero daily flow. A day earlier, it posted an outflow of $20.7 million. Nevertheless, the products still have the highest historical net outflow amongst its peers totaling $20.06 billion.

The remaining funds, BlackRock’s iShares Bitcoin Trust (IBIT), Grayscale Bitcoin Mini Trust (BTC), Valkyrie Bitcoin Fund (BRRR), and Hashdex Bitcoin ETF (DEFI), posted zero flows for the day.

Trading Volume Soars 

Meanwhile, the trading volume for the 12 funds was $2.27 billion on Tuesday, up from $1.1 billion on Monday. Moreover, the cumulative net inflow of the funds now stands at $17.50 billion, with a net asset value (NAV) of $54.84 billion. The NAV represents 4.62% of bitcoin’s market value.

Bitcoin trades at $59,961 at press time, representing a 2% surge on the day and a 6% increase over the past week.