BlackRock’s IBIT led the pack of net inflows with $416.35 million, according to SoSoValue data. VanEck’s HODL followed, reporting $19 million in positive flows. Grayscale’s Mini Bitcoin Trust and Bitwise’s BITB also recorded net inflows for the day.
Three bitcoin funds countered the inflows with negative flows on Tuesday. Grayscale’s GBTC saw $41.22 million move out, Fidelity’s FBTC experienced $23 million in outflows, and Ark & 21Shares’ ARKB recorded $6.21 million in net outflows.
Spot Bitcoin ETFs have collectively amassed $53.07 billion in cumulative total net inflows. Over the past nine trading days, these funds have attracted $4.4 billion. This extends the sustained period of growth that started in April, during which they have drawn in nearly $17 billion.
“Bitcoin ETFs have consistently attracted inflows since April, reflecting growing institutional interest and corporate treasuries’ adoption,” stated Min Jung, a research analyst at Presto Research. “This steady demand has reinforced Bitcoin’s unique position in the digital asset space — there’s a stronger perception now that ‘there is no second best.'”
Meanwhile, spot Ethereum ETFs recorded their eighth consecutive day of net inflows, reporting $192.33 million.
Bitcoin currently trades at $117,373, an increase of 0.25% today. While it pulled back from its recent all-time high of $123,000 earlier this week, the cryptocurrency maintains a key support level.
“A solid position around $118K has been maintained by Bitcoin after core CPI data was lower than expected. This prompted speculation that the Fed will be more likely to cut interest rates in September, potentially leading to a surge of demand for Bitcoin,” said LVRG Research Director Nick Ruck.
