Key findings
- Spot Bitcoin ETFs saw a combined net inflow of $117 million on Tuesday.
- BlackRock’s iShares Bitcoin Trust has been stagnating, with no new capital since late August.
About $117 million was invested in U.S. spot Bitcoin exchange-traded funds (ETFs) in trading on Tuesday, while a group of nine spot Ethereum ETFs returned to green territory after a period of losses. data from the show Farside Investors.
Fidelity’s Bitcoin Fund (FBTC) led the pack with net inflows of about $63 million on Tuesday. The gain takes its total net inflows to $9.5 billion after eight trading months.
FBTC currently holds $10.5 billion worth of Bitcoin and is the third-largest Bitcoin ETF after BlackRock’s iShares Bitcoin Trust (IBIT) and Grayscale’s Bitcoin Trust (GBTC).
Grayscale’s Bitcoin Mini Trust (BTC), a low-cost version of GBTC, and ARK Invest/21Shares’ Bitcoin ETF (ARKB) also closed successfully yesterday, raising about $41 million and nearly $13 million in net capital, respectively.
Meanwhile, IBIT, GBTC and the rest of the Bitcoin ETF group saw zero inflows.
Net inflows began to resume on Monday after a long period of outflow from late August to early September. During the outflow, More than $1 billion was withdrawn of these funds. BlackRock’s Bitcoin Fund also tested its second outflow since its launch in January.
While BlackRock’s iShares Bitcoin Trust (IBIT) is going through tough times, third day of outflows On Monday, US spot Bitcoin ETFs were still able to close in the green thanks to an influx of funds into other funds.
Notably, IBIT has not reported net worth since August 27, marking one of the longest periods of stagnation since its debut.
However, some minor setbacks do not challenge IBIT’s market leadership. The fund remains a dominant force in the crypto ETF market, with assets exceeding $20 billion.
Elsewhere, US spot Ethereum ETFs saw a soft recovery on Tuesday with net inflows of around $11 million, Farside reports. data show.
The funds that saw gains were Fidelity’s Ethereum Fund (FETH) and BlackRock’s iShares Ethereum Trust (ETHA). Other competing Ethereum ETFs saw zero inflows.
