US Bitcoin Spot ETFs registered impressive net flows of $817.5 million on Tuesday, extending the momentum from the previous day’s $1.1 billion inflows despite recent crypto market volatility.
Significant Flows in Crypto ETFs Despite Volatility
US Bitcoin Spot ETFs recorded impressive net flows of $817.5 million on Tuesday, continuing the momentum from the previous day’s $1.1 billion inflows. This trend comes amidst a broader rally in the crypto market that recently experienced a pause.
The daily trading volume of the 12 Bitcoin Spot ETFs reached $5.7 billion, compared to $7.3 billion on Monday and $2.8 billion on Friday.
Leaders in Flows: BlackRock and Fidelity Take the Lead
BlackRock’s IBIT ETF continues to dominate inflows with $778.3 million, bringing its total inflows for the current week to $1.93 billion. Meanwhile, Fidelity’s FBTC attracted $37.2 million. Grayscale had mixed performances, with Mini Bitcoin Trust and VanEck’s HODL seeing more than $10 million in inflows, while the second-largest Bitcoin ETF by net assets, GBTC, experienced outflows of $17.8 million. Ark’s ARKB and 21Shares also saw net outflows of $5.4 million.
A Bitcoin Correction After Historic Highs
After briefly surpassing $90,000, Bitcoin corrected 3% to stabilize around $87,000 in the past 24 hours. This pause indicates profit-taking by large investors, which could be temporary, leaving room for a resumption of the upward movement. upcoming economic events, such as the imminent release of consumer price index (CPI) data, could influence market volatility if the numbers exceed expectations.
Ethereum ETFs: A Late Surge
Alongside the Bitcoin ETFs, US Ethereum Spot ETFs also recorded strong inflows, reaching $135.9 million on Tuesday, the second-highest level since their launch. BlackRock’s ETHA ETF dominated this category with $131.5 million in new inflows, followed by Bitwise’s ETHW with nearly $17 million, and Grayscale’s Mini Ethereum Trust attracting $12.7 million.
However, Grayscale’s ETHE saw negative flows, with $33.2 million leaving the fund. Nevertheless, the total cumulative flows of the nine ether funds turned positive for the first time since their launch on July 23, reaching $100 million, compared to a negative $686 million on September 23.
