ETFs Recover After Heavy Outflows
U.S. spot bitcoin and ether exchange-traded funds (ETFs) attracted a combined $239 million in net inflows on Tuesday, snapping back from the prior session's steep redemptions. Bitcoin ETFs pulled in roughly $181 million, while ether ETFs added about $58 million, according to SoSoValue data. The turnaround comes a day after bitcoin ETFs shed approximately $425 million, marking the largest single-day outflow this month.
BlackRock Leads the Charge
BlackRock's IBIT dominated bitcoin inflows with about $139 million, with Fidelity's FBTC contributing $21 million. No bitcoin fund recorded outflows. On the ether side, BlackRock's ETHA accounted for the entire net figure at roughly $58 million, with all other ether funds flat. The inflows tracked a strong price rally: bitcoin ETFs rose nearly 4% on the day, and ether funds gained about 6%, their best single-session performance in weeks.
Assets Recover
Total bitcoin ETF assets climbed back to approximately $78 billion from about $75 billion, while ether ETF assets crossed the $10 billion mark. July has seen choppy flows, with bitcoin ETFs swinging between inflows and outflows nearly every other session. Tuesday's rebound was the second-largest inflow of the month, though neither direction has held for more than three consecutive days.