BlackRock’s IBIT dominates as spot bitcoin ETFs record $870 million in daily inflows, largest since June
Quick Take
- BlackRock’s IBIT drove the inflows on Tuesday, with $642 million flowing into the fund.
- All of the spot bitcoin ETFs in the U.S. recorded $4.75 billion in total trading volume on Tuesday, up from $3 billion the day before.
The 12 spot bitcoin ETFs in the U.S. reported total daily net inflows of $870 million on Tuesday, the largest since the first week of June. This was mainly driven by $642.87 million in net inflows into the IBIT ETF, its largest daily inflows in over seven months.
BlackRock’s spot bitcoin exchange-traded fund, IBIT, recorded a $3.36 billion daily trading volume, marking its highest volume since March 14.
Fidelity’s FBTC saw $133.86 million in net inflows, while Bitwise’s BITB logged inflows of $52.49 million. VanEck’s HODL experienced $16.52 million in inflows, and Ark and 21Shares’ ARKB had inflows of $12.39 million. The five other spot bitcoin ETFs saw zero flows.
The total trading volume of the 12 ETFs surged to $4.75 billion on Tuesday, up from $3 billion on Monday.
In an X post, Bloomberg ETF senior analyst Eric Balchunas wrote that the large trading volume for IBIT was “a bit odd,” as bitcoin was up 4% at the time and “typically ETF volume spikes in a downturn or crisis.”
“Occasionally, though, volume can spike if there is a FOMO-ing frenzy,” said Balchunas. “Given the surge in price [over] past few days, my guess is this is the latter, which means look for (more) big inflows this week. We'll see though!”
Bitcoin climbed 2.21% over the past 24 hours to trade at $72,471 after reaching a high of around $73,200 earlier yesterday, according to The Block’s price page. Ether was up $1.02% to change hands at $2,643.
Ether ETFs reported positive flows
Meanwhile, on Tuesday, spot Ethereum ETFs in the U.S. booked $7.65 million in daily net inflows. BlackRock’s ETHA was the only spot ether ETF to see positive flows, with $13.62 million flowing into the product.
Grayscale’s ETHE recorded net outflows of $5.97 million on the day, while the seven other ETFs had no flows.
The total trading volume for the spot ether ETFs expanded to $280.55 million on Tuesday, compared to $187.49 million on Monday and $189.88 million on Friday.
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