Bitcoin exchange-traded funds (ETFs) have seen an impressive wave of net inflows! This, with an inflow of $216.33 million recorded this Tuesday. This positive trend, which began on Monday, marks the second consecutive day of net inflows. This reflects investor confidence in cryptocurrencies despite recent market fluctuations.
Bitcoin ETFs Record $216 Million in Inflows This Tuesday!
BlackRock’s IBIT ETF led the rally with net inflows of $121.03 million, followed by Fidelity’s FBTC ETF which attracted $90.95 million. Ark Invest and 21Shares’ ARKB ETFs also saw significant inflows, while VanEck’s Bitcoin fund recorded $3.27 million in inflows.
In contrast, Grayscale’s GBTC ETF reported outflows of $37.5 million, and Bitwise’s BITB ETF saw net outflows of $4.72 million. Total trading activity across the 11 spot Bitcoin funds reached $1.19 billion on Tuesday. Which indicates active market participation. Total net assets across Bitcoin ETFs currently stand at $49.32 billion! Supporting continued institutional interest despite recent market fluctuations.
BTC reacts positively to this massive inflow into ETFs
Since Monday, Bitcoin ETFs have been seeing massive capital inflows, which is causing the Bitcoin market to react positively. With a 1.43% increase in its price in the last 24 hours, BTC is currently at $58,840. This increase is a breath of fresh air for investors, as it follows an increased decline observed a few days ago.
This continued influx of inflows into Bitcoin ETFs since the beginning of the week is a testament to investors’ confidence in Bitcoin’s long-term potential. It also illustrates the resilience of the crypto market and investors’ strategy of “buying the dip,” taking advantage of price corrections to add to their positions.
Maximize your Tremplin.io experience with our 'Read to Earn' program! For every article you read, earn points and access exclusive rewards. Sign up now and start earning benefits.
Click here to join 'Read to Earn' and turn your passion for crypto into rewards!
