In a notable turnaround, Bitcoin and Ether exchange-traded funds (ETFs) attracted substantial inflows on Tuesday, recovering from a significant outflow the previous day. U.S. spot Bitcoin ETFs reported inflows of approximately $181 million, a sharp contrast to the $425 million in redemptions just one day prior, according to data from SoSoValue.
Driving this recovery, BlackRock's IBIT ETF played a key role, attracting nearly $139 million, while Fidelity's FBTC contributed an additional $21 million. Remarkably, every Bitcoin fund saw gains, indicating a strong market rebound. On the Ethereum front, BlackRock's ETHA accounted for the total inflow of about $58 million, with other Ether funds remaining stable.
Market Performance
The price dynamics reflected this influx of capital, as Bitcoin ETFs surged nearly 4% while Ether funds experienced a solid 6% increase, marking the strongest single-session performance in several weeks. This growth brought total Bitcoin ETF assets back to around $78 billion, recovering from approximately $75 billion, while Ether ETF assets surpassed the $10 billion mark.
July has seen a volatile trading environment for these funds, with inflows and outflows alternating almost daily. For instance, the significant $425 million redemption on July 13 stands out as the largest during this period, while Tuesday's inflow marks the second-largest swing. Over the past month, neither inflow nor outflow has lasted more than three consecutive days.
This article is for informational purposes only and should not be considered financial advice.
