ETF Bitcoin Spot in the United States recorded $422.67 million in net inflows on Tuesday, marking the largest sum since early June.
This positive trend continues for the eighth consecutive day as the market appears to be turning around.
Leading Funds Performance
BlackRock’s iShares Bitcoin Trust (IBIT) led the way with net inflows of over $260 million, the highest amount since June 6. BlackRock’s fund also recorded a transaction volume of approximately $1.02 billion on Tuesday.
Fidelity’s FBTC followed with inflows of $61.05 million. Ark Invest and 21Shares ARKB attracted $29.85 million, while VanEck’s HODL recorded $22.04 million. Other funds such as Invesco and Galaxy Digital’s mutual fund saw net inflows of $20.54 million, and Bitwise’s BITB reported $17.34 million.
Context and Analysis of Flows
Franklin Templeton and Valkyrie’s Bitcoin ETFs also attracted funds on Tuesday. In contrast, Grayscale’s converted GBTC fund saw no net flows, highlighting a stagnation compared to other growing funds.
A total value of $1.76 billion was traded on American bitcoin funds on Tuesday. Since their launch in January, these ETFs have accumulated total net inflows of $16.53 billion.
Impact on Bitcoin and Crypto Market
Meanwhile, the price of Bitcoin increased by nearly 2% on the day, briefly surpassing $66,000.
