BTC ETFs saw $477 million in inflows.
Acryptoinvest.news: US Bitcoin exchange-traded funds returned to positive territory on Tuesday, recording a total daily net inflow of $477.2 million.
“Yesterday's return to net positive flows signals a potential stabilization in institutional investor sentiment after recent volatility, suggesting renewed confidence in cryptocurrencies as a portfolio diversifier amid economic uncertainty,” said Nick Ruck, Director of LVRG Research.
According to SoSoValue, nine of 12 Bitcoin funds recorded net inflows yesterday, including $210.9 million into BlackRock's IBIT. Ark & 21Shares' ARKB reported $162.8 million in inflows, while Fidelity's FBTC saw $34.15 million.
Spot Ethereum ETFs also saw net inflows yesterday, totaling $141.6 million. Fidelity's FETH led the way with $59 million, while funds from BlackRock, Grayscale, and VanEck added funds.
Net outflows from spot cryptocurrency ETFs have exceeded $1 billion in the past few days as the crypto market has collapsed due to ongoing trade tensions between the US and China.
Meanwhile, total Bitcoin ETF trading volume on Tuesday was $7.41 billion, in line with the funds' growth this month. In October, trading volume ranged from $5 billion to $9.78 billion, compared to $2 billion to $4 billion the previous month.
Positive outlook
LVRG's Rak sees the increase in volumes as a positive for ETFs and cryptocurrencies in general.
“The sharp rise in monthly trading volumes over the past month indicates increased institutional participation, providing greater liquidity and risk appetite as traditional investors increasingly invest in digital assets for yield and hedging opportunities,” Rak said.
Rak also stated that gold demand has peaked, prompting investors to seek alternative risk-adjusted cryptocurrency investments. Spot gold prices fell significantly on Tuesday, down 5.9%, recording their steepest intraday drop since 2020. As a result, some analysts are predicting an “aggressive catch-up trade” for Bitcoin.
The cryptocurrency market remained relatively stable over the past 24 hours. Bitcoin rose 0.18% over the past 24 hours to $108,450, while Ethereum fell 0.19% to $3,869.
Source: cryptonews.net
