US spot Bitcoin ETFs saw net inflows of $136 million on Tuesday, marking their fourth consecutive day of positive movement. BlackRock’s IBIT saw the most significant inflow, $98.8 million.
Over the past four days, these BTC ETFs have collectively gained more than $390 million. Notably, no funds reported outflows during this period, signaling sustained investor confidence in the market.
Bitcoin ETFs Continue to See Strong Inflows
On Tuesday, US spot Bitcoin ETFs recorded an impressive net inflow of $136 million. According to data from SoSoValue, BlackRock’s IBIT took the lead with $98.8 million, its most significant single-day inflow since August 26.
Other major players followed suit, with Bitwise’s BITB bringing in $17.4 million and Fidelity’s FBTC seeing $16.8 million in inflow. These inflows accounted for a cumulative $390 million across 12 Bitcoin ETFs over the past four days.
Surprisingly, based on SoSoValue’s data, no fund reported net outflows. Grayscale’s Bitcoin Mini Trust even saw modest gains of $2.85 million. However, some funds, such as Grayscale’s GBTC, experienced no movement.
Tuesday’s total trading volume for these Bitcoin funds reached $1.11 billion. Since their launch in January, U.S. Bitcoin ETFs have accumulated a total net inflow of $17.83 billion, indicating sustained investor interest.
Ether ETFs See Positive Returns
Alongside Bitcoin’s strong performance, US spot Ether ETFs returned to positive inflows on Tuesday. The funds saw net inflows of $62.5 million, bouncing back from a $79 million net outflow on Monday. Also, this is the largest outflow since July.
BlackRock’s ETHA led the Ether funds with $59.25 million in net inflows, signaling renewed investor confidence. VanEck’s ETHV and Invesco’s Ether ETF also recorded inflows of $1.94 million and $1.32 million, respectively.
However, the remaining six Ether funds saw no activity on Tuesday. Ether ETFs’ total daily trade volume rose to $180.42 million, up from $167.35 million on Monday. Since their July launch, they have accumulated negative flows of $624.17 million.
Bitcoin Price Surges Amid Global Economic Easing
The recent inflows into Bitcoin ETFs coincide with a notable surge in Bitcoin’s price. On Tuesday, Bitcoin climbed past $64,000, hitting a high of around $64,300 before a slight pullback.
In addition, this price uptick is closely linked to the easing of monetary policies by major global economies. Last week, the US Federal Reserve cut interest rates by 50 basis points. Investors expect a further cut by the end of the year.
In addition to the Fed’s actions, China’s recent monetary stimulus package contributed to Bitcoin’s rise, although its effect was modest.
Bitcoin’s current price movement brings it closer to the $65,000 mark, a level not seen since early August. Breaking this threshold would confirm a bullish trend for the cryptocurrency.
Moreover, as shown in its daily chart, BTC has formed a potential inverse head-and-shoulder technical pattern, signaling a possible bullish reversal.
If Bitcoin breaks above the neckline in this pattern, it suggests that a new uptrend might be starting. Based on this, there’s a chance BTC could surge to $70,000 soon.
Check out the best crypto presales to invest now
Our Editorial Process
Our Editorial Process
Share 
Rida Fatima Crypto Journalist 
Question & Answers (0)