U.S.-listed spot Bitcoin (BTC) exchange-traded funds (ETFs) experienced a surge in inflows on Tuesday, with over $880 million pouring in, according to provisional data released on Wednesday.
This marks the highest single-day inflow since March and the second-largest since the launch of 11 Bitcoin ETFs in January.
Fidelity’s FBTC led the pack, attracting $378 million in inflows, the most among its peers. BlackRock’s IBIT followed with $270 million, while Grayscale’s GBTC, typically known for its outflows, saw an influx of $28 million.
The influx of investments helped Bitcoin prices rise above $71,000 during Asian trading hours, reflecting a 3% increase as the data became public. This renewed activity comes amid a generally bullish sentiment, following a lackluster period from mid-April to early May when some days recorded zero net inflows or even outflows from major ETFs like BlackRock’s IBIT.
Bloomberg analyst Eric Balchunas noted on X that Bitcoin ETFs have accumulated $3.3 billion over the past four weeks, bringing their net year-to-date total to over $15 billion.
The uptick in inflow activity also coincides with the recent approval of ether (ETH) spot ETFs for listing in the U.S. and a favorable outlook for cryptocurrencies amid the ongoing U.S. presidential campaign.
