U.S. spot bitcoin exchange-traded funds (ETFs) experienced a turnaround on Tuesday, as they attracted $31.01 million in net inflows, putting an end to their previous outflow trend. Fidelity’s FBTC led the way with $49 million in inflows, while Grayscale’s Bitcoin Trust (GBTC) saw approximately $30 million in outflows.
The rebound of U.S. Spot Bitcoin ETFs
On Tuesday, U.S. spot bitcoin ETFs defied recent outflow trend by securing a net inflow increase of $31.01 million. FBTC emerged as the top performer, attracting $49 million in inflows. Bitwise’s BITB claimed the second position with $15 million, while Vaneck’s HODL garnered $4 million, positioning it third in Tuesday’s trading sessions.
Stable trading for other ETFs
ETFs such as IBIT, BTCO, BRRR, EZBC, BTCW, and DEFI experienced stable trading with no significant inflows or outflows. On the other hand, GBTC saw a reduction of $30 million in outflows, making it the leader in terms of outflows. Ark Invest’s and 21shares’ ARKB fund followed with $6 million in outflows. According to sosovalue.xyz stats, these movements brought the cumulative total net inflow to $14.42 billion.
Increased bitcoin reserves and trading volume
The 11 funds now hold a total of $53.56 billion in bitcoin reserves, and Tuesday’s trading sessions saw a total of $2.21 billion traded. The trading dynamics on Tuesday indicate a subtle shift in investor sentiment towards U.S. spot bitcoin ETFs, suggesting a potential stabilization after a turbulent week.
Share your thoughts
What are your thoughts on the ETFs breaking their outflow streak? Feel free to share your opinions and thoughts on this subject in the comments section below.
