Bitcoin ETFs Gain $407M, Mark 16-Day Streak

Bitcoin spot exchange-traded funds (ETFs) in the U.S. continued to draw strong investor interest, recording a net inflow of $407.78 million on Tuesday.

The statistics, posted by SoSoValue, represent the 16th consecutive day of inflows, indicating continued interest in controlled Bitcoin-based investment products. The overall net inflows totaling all the listed Bitcoin ETFs are now at $49.04 billion, and the total trading volume is above $5.22 billion.

BlackRock iShares Bitcoin Trust (IBIT) is still the largest fund in terms of net assets that is now at $76.31 billion, even though there were zero inflows on the day.

Bitcoin ETF Net Assets Hit $136 Billion

Fidelity Investments FBTC showed the largest one-day flow of $183.96 million yesterday, increasing its total net inflow to $11.97 billion.

Grayscale has reported an inflow with its GBTC fund, which has been experiencing outflows in the recent past months. The current inflow is $34.56 million. Ark Invest, too, reported an inflow of $83 million, with its cumulative inflow now at $2.59 billion.

There were inflows of $64.94 million in the BITB of Bitwise, $5.42 million in VanEck, and $9.85 million in BTCO of Invesco. According to analysts, the inflows indicate how investors are increasingly gaining confidence in Bitcoin as a long-term investment, even though the market is still experiencing volatility.

The net assets of all Bitcoin ETFs as of Tuesday totaled $136.68 billion, or around 6.3 percent of the entire market cap of Bitcoin. The largest holder was IBIT, the second-largest was FBTC and the third was GBTC, with net assets of $65.90 billion, $4.48 billion, and $3.17 billion respectively.

The overall cryptocurrency market showed an upsurge. Bitcoin rose by 1.49%, trading at 108903, while ETH scored the biggest gain of 5.74%, hitting $2,575.

Fueling the momentum of ETFs were market observers who cited rising institutional involvement, as well as enhanced regulatory clarity. Increases in the number of ETF offerings have enabled institutional and retail investors alike to secure the experience of Bitcoin without requiring its direct possession.