The 11 major U.S. spot Bitcoin exchange-traded funds (ETFs) saw a net inflow of $216.33 million on Tuesday, extending the bull run for a third straight day.
BlackRock’s IBIT, the largest spot Bitcoin fund by net asset value, led with inflows of $121.03 million, followed by Fidelity’s FBTC with net inflows of $90.95 million. data At SoSoValue, Ark Invest and 21Shares’ ARKB reported $43.3 million in inflows, while VanEck’s Bitcoin fund also recorded $3.27 million.
Meanwhile, Grayscale’s GBTC, the second-largest Bitcoin ETF, reported outflows of $37.5 million. Bitwise’s BITB also reported net outflows of $4.72 million.
A total of $1.19 billion worth of value was traded across 11 spot Bitcoin funds on Tuesday. The ETFs have amassed a total of $15.27 billion in net inflows since their inception in January.
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Meanwhile, the U.S. Federal Reserve (Fed) Chairman Jerome Powell said In a speech on Capitol Hill Tuesday, he said the U.S. economy is no longer overheated and the labor market appears to be “fully balanced.” Investors are awaiting key U.S. economic data later this week, with initial jobless claims and the consumer price index due out Thursday.
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About the Author
Danny Park is The Block’s East Asia reporter, writing about topics including Web3 development and cryptocurrency regulation in the region. He was previously a reporter at Forkast.News, where he actively covered the downfalls of Terra-Luna and FTX. Based in Seoul, Danny previously produced written and video content for media companies in Korea, Hong Kong, and China. He holds a Bachelor of Arts in Journalism and Business Marketing from the University of Hong Kong.