Outside Source
Crypto Journalist
Amin Ayan
Crypto Journalist
Amin Ayan
U.S. spot bitcoin exchange-traded funds (ETFs) extended their winning streak to nine consecutive days on Tuesday, attracting a total of $403 million in net inflows, according to data from SoSoValue.
Key Takeaways:
- U.S. spot Bitcoin ETFs extended their inflow streak to nine days, adding $403 million on Tuesday.
- Despite gains, outflows hit Grayscale’s GBTC, Fidelity’s FBTC, and Ark & 21Shares’ ARKB.
- Ethereum spot ETFs also recorded eight straight days of inflows, adding $192 million.
Leading the charge was BlackRock’s IBIT, which alone saw $416.35 million in new money, followed by VanEck’s HODL with $19 million.
Other funds such as Grayscale’s Mini Bitcoin Trust and Bitwise’s BITB also reported positive inflows for the day.
Notable Outflows Hit Grayscale, Fidelity, and Ark Bitcoin Funds
However, the gains were partially offset by outflows from three funds: Grayscale’s GBTC lost $41.22 million, Fidelity’s FBTC saw $23 million exit, and Ark & 21Shares’ ARKB dropped by $6.21 million.
Spot bitcoin ETFs have now amassed a cumulative total of $53.07 billion in net inflows, with $4.4 billion added over the past nine trading days alone.
The surge builds on a strong run that began in April, during which these funds have drawn nearly $17 billion.
Ethereum spot ETFs have followed suit, marking their eighth straight day of net inflows, with $192.33 million added on Tuesday.
Bitcoin currently trades at $117,373, holding steady near a key support level despite pulling back from a recent all-time high of $123,000 set earlier this week.
“Bitcoin has been able to maintain a solid position at around $118K after core CPI data was lower than expected, prompting speculation that the Fed will be more likely to cut interest rates in September, potentially leading to a surge of demand for bitcoin,” said Nick Ruck, director of LVRG Research.
Last week, US-based spot Bitcoin ETFs recorded over $1 billion in inflows for two straight days.
On Friday, 11 spot Bitcoin ETF products reported combined inflows totaling $1.03 billion, following $1.17 billion the previous day.
Recently, BlackRock reported earning more revenue from IBIT than from its flagship iShares Core S&P 500 ETF.
95% Approval Chance for Spot Solana, XRP ETFS
As reported, Bloomberg’s senior ETF analysts have assigned a 95% chance that the SEC will approve spot ETFs for Solana, XRP, and Litecoin this year, raising their previous odds from 90% amid growing optimism for institutional crypto products.
They also expect a crypto index ETF tracking multiple assets could gain approval as early as this week, signaling broader access to altcoins for traditional investors.
Beyond ETFs, institutional Bitcoin demand is spreading into corporate treasuries.
Japan’s Metaplanet recently bought $93 million worth of BTC, becoming the fifth-largest corporate holder with a stack exceeding 16,300 BTC.
France’s The Blockchain Group and the UK’s Smarter Web Company also made new BTC treasury allocations this week, purchasing $12.5 million and $24.3 million worth of Bitcoin respectively.
This article first appeared at News
