On Tuesday, U.S. Bitcoin exchange-traded funds (ETFs) saw a notable influx, with $88.06 million in net inflows.
This marks the fourth straight day of gains for these funds. The top performer was BlackRock’s IBIT, which attracted $55.43 million. Ark Invest and 21Shares’ ARKB also saw significant investments, receiving $51.91 million.
Conversely, Grayscale’s GBTC experienced the largest outflow, losing $12.81 million, with Bitwise’s BITB following with $6.47 million in outflows. Other ETFs, including those from Fidelity and VanEck, reported no changes in their net flows.
The total trading volume for these Bitcoin ETFs was $1.35 billion on Tuesday, a rise from $779 million the previous day but still below the $5 to $8 billion range observed earlier this year. Since their introduction, these ETFs have gathered $17.52 billion in net inflows.
In contrast, spot ether ETFs faced a challenging day, with a total of $6.49 million in outflows. This was their fourth consecutive day of negative flows. Grayscale’s ETHE saw the largest decrease at $36.99 million, while BlackRock’s ETHA and Bitwise’s ETHW saw modest inflows of $26.77 million and $3.73 million, respectively.
Trading volume for ether ETFs reached $194.66 million, down from the $900 million to $1 billion range seen in their debut week. Overall, these ether funds have experienced $440.11 million in net outflows to date.
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Strategy (previously MicroStrategy) has unveiled a new initiative to raise up to $21 billion by issuing shares, with the goal of expanding its Bitcoin holdings.
Utah recently advanced its “Blockchain and Digital Innovation Amendments” bill, HB230, to include Bitcoin in the state’s legal framework, yet a pivotal section was revised before its final passage.