Bitcoin exchange-traded funds (ETFs) experienced a net inflow of $76 million on Tuesday, signaling renewed investor interest in the top cryptocurrency despite overall market uncertainty. This uptick follows a period of inconsistent ETF activity, indicating that institutional confidence in bitcoin-based investments may be strengthening.
According to data from Farside Investors, the standout performer was BlackRock’s iShares Bitcoin Trust (IBIT) with $38.1 million in inflows. Other notable contributions included:
- Fidelity’s Wise Origin Bitcoin Fund (FBTC): $20.3 million
- ARK 21Shares (ARKB): Smaller but positive gains
- Bitwise (BITB): Also showed moderate inflows
Conversely, the Grayscale Bitcoin Trust (GBTC) continued its trend of outflows, losing $15.8 million. Despite this loss, the overall market for spot bitcoin ETFs remained net positive for the day.
While bitcoin ETFs gained capital, Ethereum ETFs faced outflows totaling $14 million. The largest decline came from Grayscale’s Ethereum Trust, as investors appeared to retreat from ether due to mounting regulatory uncertainty and underperformance relative to bitcoin.
This clear divergence reflects a shifting investor sentiment, with a growing inclination toward bitcoin as the digital asset market reacts to macroeconomic changes and expectations surrounding interest rate adjustments.
As of Wednesday morning, bitcoin is trading near $66,000, with experts speculating that ETF inflows could serve as a key support level in the near term.
For more details, see the original article at Bitcoin.com.
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