Spot Bitcoin ETFs Attract $31 Million in Net Inflows

After experiencing seven consecutive days of net outflows, the U.S. spot bitcoin exchange-traded funds (ETFs) have made a comeback, recording $31 million in daily net inflows on Tuesday.

The Fidelity Bitcoin ETF (FBTC) led the way with $49 million in net inflows, followed by the Bitwise Bitcoin ETF (BITB) with $15 million. VanEck's HODL also saw a net inflow of $4 million. On the other hand, Grayscale's GBTC experienced net outflows of $30.3 million, while Ark Invest and 21Shares' ARKB reported $6 million in net outflows.

Spot Ether ETFs on the Horizon

Meanwhile, U.S. issuers are working to launch spot ether ETFs, having gained soft approval from the Securities and Exchange Commission last month. Firms have filed amended S-1 registration statements, and industry analysts expect spot Ethereum ETFs to launch as early as next week.

Potential for Significant Inflows

Bitwise's Chief Information Officer, Matt Hougan, believes that spot ether ETFs could accumulate $15 billion in net inflows within the first 18 months of their launch in the U.S. market.

The 11 spot bitcoin funds that debuted in January have already accumulated a total net inflow of $14.42 billion as of Tuesday, demonstrating the strong investor demand for these products.