U.S. spot Bitcoin exchange-traded funds recorded net inflows for the third straight day on Tuesday, hitting $31.64 million, according to SosoValue data. The Bitcoin fund’s positive streak follows five days of Bitcoin outflows. half life event.
Grayscale’s GBTC recorded net outflows worth $66.88 million on Tuesday, while BlackRock’s spot Bitcoin ETF saw net inflows of $37.92 million, the highest daily net outflows among spot Bitcoin ETFs. A large one appears in SoSoValue data. Ark Invest’s fund recorded net inflows of $33.28 million, while Bitwise’s funds recorded net inflows of $23.23 million.
Since its debut in January, the U.S. Spot Bitcoin ETF has seen total net inflows of $12.42 billion and total net assets of $55.82 billion as of Tuesday.
Grayscale’s ETF saw $16.83 billion exit the fund since the conversion, with net outflows down compared to the previous week. Over $2 billion was withdrawn from GBTC during the week of March 18th.
Meanwhile, BlackRock’s IBIT, which recorded net inflows for 70 consecutive days as of Tuesday, currently has a cumulative net inflow of $15.48 billion.
Bitcoin price rose 0.16% to $66,675 over the past 24 hours. The Block’s Pricing Page.
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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 previously worked as a reporter for Forkast.News, where he actively covered the fall 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’s degree in Journalism and Business Marketing from the University of Hong Kong.