Bitcoin ETFs See $117 Million in Net Inflows, Led by Fidelity’s FBTC

Bitcoin ETF Trading Volume Falls to $712 Million, Lowest Since February

Bitcoin ETFs – Spot bitcoin exchange-traded funds (ETFs) in the U.S. experienced total daily net inflows worth $117 million on Tuesday, marking a shift in the market after an eight-day streak of negative flows. Fidelity’s FBTC led the charge, bringing in $63.16 million in daily inflows, according to data from SoSoValue.

This influx follows the return to net inflows on Monday, a significant development for the crypto ETF market. Grayscale’s Bitcoin Mini Trust followed with $41.13 million, while Ark Invest and 21Shares’ ARKB reported inflows of $12.68 million.

Meanwhile, BlackRock’s IBIT and eight other bitcoin ETFs recorded zero daily flows. Notably, IBIT has not seen net inflows since August 26, indicating a potential cooling in interest for the fund.

Lower Trading Volumes for Bitcoin ETFs

Despite the positive inflows, the 12 bitcoin ETFs recorded a daily trading volume of $712.27 million, a marked drop from their usual range of $1 billion to $2 billion. This volume represents the third-lowest daily trade volume for spot bitcoin ETFs since their launch, with the lowest being recorded on February 6. In total, these funds have accumulated $17.04 billion in net inflows since their inception.

Ether ETFs Also See Positive Inflows After Five Days of Outflows

The Ethereum ETF market also experienced a notable shift on Tuesday, posting net inflows of $11.44 million, ending a five-day outflow streak. This is the first net inflow for spot ether ETFs since August 28.

Fidelity’s FETH led the inflows, recording $7.13 million, while BlackRock’s ETHA followed closely with $4.31 million. The remaining seven ether funds reported zero inflows for the day.

The total daily trading volume for the nine ether ETFs was $102.87 million, down from Monday’s $124.51 million. Despite the positive flows, the cumulative net outflows for ether ETFs remain significant, standing at $562.06 million.

Bitcoin and Ether Prices Drop Amid Market Volatility

Amid these fund movements, bitcoin’s price dropped by 0.53% over the past 24 hours, trading at around $56,296. Similarly, ether saw a 0.61% dip, trading at $2,323. Both cryptocurrencies experienced volatility during the first presidential debate between Kamala Harris and Donald Trump on Tuesday night.

Market Outlook: Economic Data in Focus

Looking ahead, markets are closely watching key economic data from the U.S. set to be released this week. The Consumer Price Index (CPI) will be released on Wednesday, followed by the Producer Price Index (PPI) on Thursday. These reports are expected to provide further insights into inflation trends, which could influence both traditional financial markets and cryptocurrency movements.

In summary, the recent inflows into bitcoin and ether ETFs signal a potential resurgence of investor interest after a period of outflows. However, the lower trading volumes and ongoing market volatility suggest that investors remain cautious as they await key economic data.

FAQ: Bitcoin and Ether ETFs Inflows and Market Movements