Spot Bitcoin Exchange-Traded Funds Inflows

Spot bitcoin exchange-traded funds (ETFs) in the U.S. recorded $817.5 million in daily net inflows on Tuesday, following $1.1 billion in inflows the day before.

The daily trading volume for the 12 spot bitcoin ETFs was $5.7 billion on Tuesday, compared to $7.3 billion on Monday and $2.8 billion last Friday, according to SoSoValue data.

BlackRock’s IBIT led Tuesday’s inflows, with $778.3 million flowing into the product, accumulating $1.93 billion so far this week. Fidelity’s FBTC also contributed inflows of $37.2 million. Grayscale’s Mini Bitcoin Trust and VanEck’s HODL posted over $10 million in inflows.

Grayscale’s GBTC, the second-largest spot bitcoin ETF by net assets, experienced a loss of $17.8 million, while Ark and 21Shares’ ARKB reported net outflows of $5.4 million on the same day.

The significant inflows into the bitcoin ETFs corresponded with a broader crypto market rally, with bitcoin hitting new highs after President-elect Donald Trump’s victory. However, the rally paused, with bitcoin dropping 3.4% over the last 24 hours to $86,855 after briefly exceeding the $90,000 mark on Tuesday, according to The Block’s bitcoin price page. Ether fell 7.35% to $3,142.

“Bitcoin’s rally paused with its first red candle appearing yesterday, following an intraday peak at $90,000,” stated Valentin Fournier, an analyst at BRN. “This indicates potential profit-taking by large investors, which may lead to a brief correction before prices resume their upward trend.”

Fournier noted that upcoming events and technical indicators might indicate a price reversal. “Currently, the upside potential seems greater than the immediate downside risk. However, today’s CPI release could introduce market volatility if expectations are exceeded.”

Ether ETFs Record Large Inflows

In parallel, spot Ethereum ETFs in the U.S. recorded net inflows of $135.9 million on Tuesday, marking their second-highest inflows since their debut.

BlackRock’s ETHA saw the largest inflows among these ETFs, with $131.5 million in inflows. Bitwise’s ETHW logged nearly $17 million while Grayscale’s Mini Ethereum Trust experienced inflows of $12.7 million.

Grayscale’s ETHE was the sole ether ETF to report negative flows, with $33.2 million exiting the fund.

For the first time since their launch on July 23, the cumulative total flows for the nine ether funds turned positive at $94.62 million, recovering from a negative $686 million on Sept. 23, according to SoSoValue.

The trading volume for spot ether ETFs dropped to $582.2 million on Tuesday, down from $913 million the previous day; nevertheless, it remains the second-largest volume since July 29.