Spot bitcoin ETFs log $403 million in net inflows led by BlackRock’s IBIT, marking nine-day streak

U.S. spot bitcoin exchange-traded funds reported their ninth consecutive day of total net inflows on Tuesday, with $403 million moving into the funds.

According to SoSoValue data, BlackRock's IBIT led the pack of net inflows with $416.35 million, followed by VanEck's HODL reporting $19 million in positive flows. Grayscale's Mini Bitcoin Trust and Bitwise's BITB also recorded net inflows for the day.

The inflows were countered by three bitcoin funds that saw negative flows on Tuesday — $41.22 million moved out from Grayscale's GBTC, Fidelity's FBTC saw $23 million worth of outflows, while Ark & 21Shares' ARKB had $6.21 million net outflows.

Spot bitcoin ETFs have collectively amassed $53.07 billion in cumulative total net inflows. Over the past nine trading days, these funds have attracted $4.4 billion. This extends the sustained period of growth that started in April, during which they have drawn in nearly $17 billion.

"Bitcoin ETFs have consistently attracted inflows since April, reflecting growing institutional interest and adoption by corporate treasuries," said Min Jung, research analyst at Presto Research. "This steady demand has reinforced Bitcoin’s unique position in the digital asset space — there’s a stronger perception now that ‘there is no second best.’"

Meanwhile, spot Ethereum ETFs also continued to record their eighth consecutive day of net inflows, reporting $192.33 million.

Bitcoin is currently trading at $117,373, up 0.25% today. While it has pulled back from its recent all-time high of $123,000 set earlier this week, the cryptocurrency is maintaining a key support level.

"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 LVRG Research Director Nick Ruck.

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