Spot Bitcoin and Ether ETFs traded in the US recorded net inflows again on Tuesday, following sharp outflows in the previous session. According to SoSoValue data, spot Bitcoin ETFs received approximately $181 million in inflows, while spot Ether ETFs received approximately $58 million.
Inflows in Bitcoin ETFs rebound led by BlackRock
The biggest contribution to the recovery in spot Bitcoin ETFs came from BlackRock’s IBIT fund. The fund attracted approximately $139 million in inflows. Fidelity’s FBTC fund also received approximately $21 million. There was no net outflow in any of the Bitcoin funds monitored during the day.
BlackRock is among the world’s largest asset management companies. IBIT, offered by the company under the iShares brand, is among the standout products in the US spot Bitcoin ETF market in terms of transaction volume and asset size.
U.S. spot Bitcoin ETFs recorded net inflows of about $181 million on Tuesday, following outflows of about $425 million the day before.
This move comes on the heels of an outflow of approximately $425 million seen on July 14. Thus, Tuesday’s entry stood out as the second strongest daily recovery in July.
ETHA effect alone seen on Ether ETFs
On the Spot Ether ETF side, all of the net inflow came from BlackRock’s ETHA fund. While the fund in question recorded an inflow of approximately $58 million, all other Ether funds finished the day flat. Thus, a single product determined the net picture in Ether ETFs.
An increase was also observed on the total asset size side. The total size of spot Bitcoin ETFs increased from approximately $75 billion to $78 billion. The total assets of Spot Ether ETFs exceeded the $10 billion threshold.
BlackRock’s ETHA fund accounted for all of the approximately $58 million in net inflows in Spot Ether ETFs.
The rise in prices accompanied fund flows
The reversal in fund flows coincided with daily price increases in crypto assets. Bitcoin ETFs rose about 4 percent on the day, while Ether ETFs rose about 6 percent. This chart was recorded as one of the strongest single-session movements in recent weeks.
The direction of the flows in July is not clear. Bitcoin ETFs have oscillated between inflows and outflows almost every other day this month. While the outflow of $425 million on July 13 was the biggest withdrawal of this period, the inflow of $181 million on Tuesday constituted one of the strongest recoveries.
Data suggests ETF investors are reacting more quickly to short-term price movements this month rather than choosing a permanent direction. In the current course, the trend towards entry or exit did not last longer than three sessions.
