U.S. spot Bitcoin exchange-traded funds (ETFs) continued their strong performance on Tuesday, registering net inflows of $187 million, marking the fourth consecutive day of positive flows.
Over the past four days, these funds have seen more than $500 million in inflows.
ETF breakdown
Fidelity’s FBTC led the way, attracting $56.6 million, followed by Bitwise’s BITB with $45.4 million and Ark Invest’s ARKB at $42.2 million.
Other funds, including VanEck’s HODL and Invesco’s BTCO, also posted gains.
Bitcoin price action
This comes as Bitcoin remains steady at around $60,000, ahead of Wednesday’s key Federal Reserve meeting.
Anticipation of potential interest rate cuts has contributed to Bitcoin’s strong performance in recent days.
Notably, the total net inflows for spot Bitcoin ETFs since their launch in January have reached nearly $17.5 billion.
ETH vs BTC
Meanwhile, spot Ethereum ETFs saw net outflows of $15 million for the second straight day. Despite this, trading volume for Bitcoin ETFs surged, hitting $2.3 billion on Tuesday, up from $1.1 billion on Monday.
According to Nate Geraci of The ETF Store, spot Bitcoin ETFs are among the top four ETF launches of 2024, with Fidelity’s fund surpassing $10 billion in assets under management and BlackRock’s reaching $21 billion.
