U.S. spot bitcoin ETFs reported massive net inflows of $870 million on Tuesday, marking their largest single-day inflows since early June. BlackRock’s IBIT ETF was the primary driver, recording $642.87 million in net inflows — its highest in more than seven months.
The IBIT ETF also experienced a trading volume spike, reaching $3.36 billion on Tuesday — its highest daily volume since March 14.
Other major spot bitcoin ETFs saw notable inflows:
- Fidelity’s FBTC: $133.86 million
- Bitwise’s BITB: $52.49 million
- VanEck’s HODL: $16.52 million
- Ark and 21Shares’ ARKB: $12.39 million
The remaining five spot bitcoin ETFs reported no inflows. Total trading volume across all 12 ETFs surged to $4.75 billion, up from $3 billion on Monday.
Analyst Commentary on IBIT’s Volume Spike
Bloomberg ETF senior analyst Eric Balchunas commented on the unusual surge in IBIT’s trading volume. In a post on X (formerly Twitter), Balchunas noted that ETF trading volumes typically spike during market downturns or crises. However, he suggested the current surge could be driven by FOMO (fear of missing out) as bitcoin prices rally.
“Given the surge in price over the past few days, my guess is this is the latter,” Balchunas wrote. “Look for more big inflows this week — we’ll see though!”
Bitcoin’s price rose 2.21% over the past 24 hours, trading at $72,471, after reaching a high of $73,200 on Tuesday. Ether also gained 1.02%, trading at $2,643.
Ether ETFs Record Positive Flows
On the Ethereum side, spot ether ETFs reported $7.65 million in net inflows on Tuesday. The standout performer was BlackRock’s ETHA, which attracted $13.62 million in new investments.
Meanwhile, Grayscale’s ETHE saw outflows of $5.97 million, and the seven other ether ETFs recorded no activity. Total trading volume across the nine ether ETFs climbed to $280.55 million, up from $187.49 million on Monday.
Market Momentum Continues
The spike in inflows and trading volumes reflects growing optimism among investors as bitcoin and ether continue their upward momentum. With Bitcoin’s price rallying, analysts expect further inflows into these ETFs throughout the week.
This surge comes amid renewed interest in crypto markets, bolstered by regulatory developments and expectations of pro-crypto policies following the U.S. presidential elections on November 5.
