U.S. spot bitcoin exchange-traded funds (ETFs) extended their winning streak to nine consecutive days on Tuesday, attracting a total of $403 million in net inflows, according to data from SoSoValue.
Leading the charge was BlackRock’s IBIT, which alone saw $416.35 million in new money, followed by VanEck’s HODL with $19 million.
Spot bitcoin ETFs have now amassed a cumulative total of $53.07 billion in net inflows, with $4.4 billion added over the past nine trading days alone. The surge builds on a strong run that began in April, during which these funds have drawn nearly $17 billion.
However, the gains were partially offset by outflows from three funds: Grayscale’s GBTC lost $41.22 million, Fidelity’s FBTC saw $23 million exit, and Ark & 21Shares’ ARKB dropped by $6.21 million.
“Bitcoin has been able to maintain a solid position at around $118K after core CPI data was lower than expected, prompting speculation that the Fed will be more likely to cut interest rates in September, potentially leading to a surge of demand for bitcoin,” said Nick Ruck, director of LVRG Research.
Bitcoin currently trades at $117,373, holding steady near a key support level despite pulling back from a recent all-time high of $123,000 set earlier this week.
Ethereum spot ETFs have followed suit, marking their eighth straight day of net inflows, with $192.33 million added on Tuesday.
They also expect a crypto index ETF tracking multiple assets could gain approval as early as this week, signaling broader access to altcoins for traditional investors. France’s The Blockchain Group and the UK’s Smarter Web Company also made new BTC treasury allocations this week, purchasing $12.5 million and $24.3 million worth of Bitcoin respectively.
As reported, Bloomberg’s senior ETF analysts have assigned a 95% chance that the SEC will approve spot ETFs for Solana, XRP, and Litecoin this year, raising their previous odds from 90% amid growing optimism for institutional crypto products.
