Spot Bitcoin (BTC) exchange-traded funds (ETFs) in the U.S. recorded net inflows of $194.6 million on Tuesday, reversing Monday's outflows.
According to Farside, BlackRock’s IBIT led the positive results with $157.6 million raised, followed by Wisdomtree’s BTCW with $118.5 million and Fidelity’s FBTC with $65.2 million.
The ARK 21Shares Bitcoin ETF (ARKB) also saw inflows of $32.8 million.
On the other hand, spot Ethereum ETFs saw slight outflows, with total outflows amounting to $2.9 million.
The largest inflow was recorded by BlackRock’s ETHA, which saw $11.7 million, while the largest outflow was recorded by Grayscale’s ETHE at $19.8 million.
Grayscale’s mini trust (ETH) posted the second-best results of the day, attracting $5 million, followed by Bitwise’s ETHW with $2.8 million.
Grayscale’s ETHE, on the other hand, experienced the weakest outflow since its inception, with only $39.7 million leaving the fund, a significant decrease from the $484 million it registered at launch.
Fundstrat’s Tom Lee believes Bitcoin could emerge as Wall Street’s most lucrative asset as the U.S. moves toward recognizing BTC as part of its financial reserves.
Despite Bitcoin’s growing presence in financial markets, global adoption remains relatively low, with only 4% of the world’s population holding BTC.
Michael Saylor, the founder of Strategy, has put forward an ambitious plan for the U.S. government to secure up to 25% of Bitcoin’s total supply over the next decade.
Binance has taken decisive action against a market maker involved in irregular trading activities related to two cryptocurrencies.