On Tuesday, the total daily trading volume of spot Bitcoin $87,756 ETFs in the U.S. hit a record $4.75 billion, up from $3 billion the previous day, indicating a surge in investor interest. Daily net inflows also reached $870 million, the highest level seen since the first week of June. BlackRock’s spot Bitcoin ETF, IBIT, attracted significant attention with a net inflow of $642.87 million, marking the largest single-day inflow in the past seven months.
Growth in IBIT and Other ETFs’ Trading Volumes
BlackRock’s IBIT ETF recorded a daily trading volume of $3.36 billion, the highest level since March. Additionally, Fidelity’s FBTC saw a net inflow of $133.86 million, while Bitwise’s BITB ETF reported $52.49 million in net inflows. VanEck’s HODL ETF recorded a net inflow of $16.52 million, and ARK and 21Shares’ ARKB ETF noted a net inflow of $12.39 million. No inflows were reported for the other five spot Bitcoin ETFs.
Bloomberg’s senior ETF analyst Eric Balchunas described the high trading volume for IBIT as “somewhat strange,” noting that such spikes typically occur during downturns or crises. He mentioned that sometimes a fear of missing out (FOMO) effect can lead to price surges and indicated that significant inflows might continue this week.
As of the article’s preparation, Bitcoin was trading at $72,471, having risen 2.21% in the past 24 hours. The leading cryptocurrency briefly reached $73,200 yesterday, suggesting sustained interest in cryptocurrency ETFs among investors.
Spot Ethereum ETFs Also Witness Positive Inflows
On Tuesday, spot Ethereum $2,096 ETFs in the U.S. recorded positive net inflows totaling $7.65 million. BlackRock’s ETHA ETF saw an inflow of $13.62 million, while Grayscale’s ETHE recorded a net outflow of $5.97 million. Other seven Ethereum ETFs did not report any inflows or outflows, and the total trading volume of spot Ethereum ETFs rose to $280.55 million, surpassing the previous day’s level of $187.49 million.