The U.S. spot Bitcoin ETFs (exchange-traded funds) market experienced a significant reversal, posting net inflows of $116.96 million on Tuesday, a stark contrast to the preceding eight days of outflows.
This marks a key moment for Bitcoin ETFs as investor sentiment turned positive, potentially driven by market developments and upcoming economic data.
Fidelity’s FBTC Leads Inflows for Bitcoin ETFs
Fidelity's FBTC led the inflows with $63.16 million, marking the second consecutive day it topped the charts. Grayscale's Bitcoin Mini Trust followed with $41.13 million in inflows, while Ark Invest and 21Shares’ ARKB recorded $12.68 million. These Bitcoin ETFs saw renewed investor interest, reflecting growing confidence in Bitcoin's performance despite broader market volatility.
Notably, BlackRock’s IBIT, along with eight other funds, saw no net inflows, with IBIT remaining inactive since Aug. 26. This divergence between top-performing ETFs and others shows varying investor strategies across Bitcoin ETF offerings.
The 12 Bitcoin ETFs saw a combined trading volume of $712.27 million on Tuesday. This is significantly lower than their typical volume, which usually hovers between $1 billion and $2 billion. This marked the third-lowest daily trading volume for spot Bitcoin ETFs, the lowest since Feb. 6. Despite the dip in volume, Bitcoin ETFs have accumulated a total of $17.04 billion in net inflows since their inception, underscoring their long-term appeal to institutional and retail investors alike.
Ether ETFs Also See a Rebound
Alongside Bitcoin ETFs, Ethereum ETFs also saw an influx of funds, breaking a five-day streak of outflows. U.S. spot Ethereum ETFs reported net inflows of $11.44 million, the first positive movement since Aug. 28. Fidelity’s FETH led the way with $7.13 million, while BlackRock’s ETHA saw inflows of $4.31 million.
The daily trading volume for Ethereum ETFs stood at $102.87 million, slightly down from Monday's $124.51 million. While Ethereum ETFs continue to recover from recent outflows, cumulative net outflows for these funds remain at $562.06 million.
Bitcoin’s price fell 0.53% in the last 24 hours to $56,296, while ETH dropped 0.61% to $2,323. The slight decline came amid volatility triggered by the first presidential debate between Kamala Harris and Donald Trump on Tuesday night. Investors are now looking ahead to key U.S. economic data, including the consumer price index on Wednesday and the producer price index on Thursday, which could further influence cryptocurrency markets in the coming days.
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