Spot Bitcoin ETFs Record Fourth Consecutive Inflow, Now Over $88M

The United States spot Bitcoin exchange-traded fund (ETF) continued the inflow trend, with $88.06 million in net inflow on Tuesday, marking the fourth consecutive day of positive flows.

Two Funds Records Inflow 

According to public data from the analytics platform SoSoValue, only two funds saw inflows on Tuesday. BlackRock’s IBIT, the most-traded Bitcoin ETF, led the inflow trend with $55.43 million. Next is Ark Invest and 21Shares ETF product (ARKB), with an inflow of $51.91 million going into the fund yesterday.

Meanwhile, Grayscale’s GBTC recorded over $12 million in negative flows, the largest volume of net outflows. Bitwise’s BITB also saw $6.47 million in daily net outflows.

However, the other eight spot bitcoin ETFs, including those from Fidelity and VanEck, saw zero flows.

Tuesday’s trading session saw the total daily volume reach $1.35 billion, recovering from $779 million on Monday. Nonetheless, the trade volume of spot bitcoin funds remains significantly lower than the range seen in March, which was around $5 billion to over $8 billion.

Since its launch in January, the US spot Bitcoin ETF has seen a cumulative net inflow of $17.52 billion and a total net asset of $54.25 billion.

The continued inflow into spot Bitcoin ETFs highlights a growing interest and demand for the financial product by institutional investors. These products offer investors a regulated and easier way to gain exposure to BTC.

Ethereum ETFs See $6.49M Outflow

Unlike Bitcoin’s positive performance, the Ethereum spot ETF saw a negative outflow of $6.49 million on Tuesday. This marked their fourth consecutive day of total net outflows.

Although BlackRock’s iShares Ethereum Trust (ETHA) saw $26.8 million in net inflows, it was not enough to outpace the $37 million net outflow from Grayscale’s Ethereum Trust (ETHE). The cumulative net outflow of the Ether-based ETF product stands at $440.11 million, with a total net asset of $7.27 billion.

At press time, Bitcoin traded at $59,500 while Ethereum exchanged hands for $2,600.