US Spot Bitcoin ETFs Witness Massive $422.6 Million Net Inflows

• BlackRock’s IBIT saw the highest net inflows since June 6th, at $260.23 million.
• There were no transactions in Grayscale’s converted GBTC fund at the same time.

Tuesday had the biggest daily net inflow of $422.67 million for the eleven U.S. spot bitcoin exchange-traded funds since June 5. As a result, their run of good flow was prolonged to eight days. SoSoValue data shows that BlackRock’s IBIT saw the highest net inflows since June 6th, at $260.23 million. On Tuesday, IBIT saw trading volume of around $1.02 billion.

After that, FBTC from Fidelity received $61.05 million, ARKB from 21Shares and Ark Invest $29.85 million, and HODL from VanEck $22.04 million.

The spot bitcoin fund run by Invesco and Galaxy Digital received $20.54 million in net inflows, while the BITB fund run by Bitwise received $17.34 million. Yesterday, capital also poured into Bitcoin exchange-traded funds (ETFs) run by Valkyrie and Franklin Templeton.

No Outflows from GBTC

There were no transactions in Grayscale’s converted GBTC fund at the same time. Tuesday saw no net outflows from any funds. On Tuesday, the U.S spot bitcoin funds traded a total of $1.76 billion worth of assets. Since their introduction in January, the ETFs have had a net inflow of $16.53 billion.

Bitcoin has been the center of attention in the community for the last two months because of its price movement. Significant price drops and volatility were seen as a result of external forces impacting Bitcoin. An enormous crypto market collapse occurred at the start of this month as a result of the decline in the price of BTC.

As per data from CMC, Bitcoin price increased by 1.61% in the last day, reaching $65,865. Earlier today, Bitcoin momentarily surpassed $66,000.

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