Bitcoin spot exchange-traded funds (ETFs) in the United States experienced a positive turnaround on Tuesday as they attracted a total net inflow of $31 million.
This marked a significant change from the seven consecutive trading days of net outflows observed in the 11 Bitcoin spot ETFs, according to data from SoSoValue.
More specifically, Fidelity’s FBTC led the net inflows on Tuesday with $49 million, followed by Bitwise’s BITB with $15 million.
VanEck’s HODL also saw net inflows of $4 million.
On the flip side, Grayscale’s GBTC witnessed net outflows of $30.3 million, while Ark Invest and 21Shares’ ARKB reported $6 million in net outflows.
Although BlackRock’s IBIT, the largest spot bitcoin fund in terms of net asset value, observed zero flows, it recorded a substantial daily trade volume of $1.1 billion on Tuesday.
Similarly, other funds from Invesco, Galaxy Digital, Valkyrie, and Franklin Templeton also reported zero flows on that day.
Since their debut in January, the 11 spot bitcoin funds have accumulated a total net inflow of $14.42 billion as of Tuesday, indicating strong investor interest despite the recent outflow trend.
Meanwhile, U.S. issuers are actively working towards launching spot ether ETFs following the soft approval received from the Securities and Exchange Commission (SEC) last month.
Last week, firms filed amended S-1 registration statements, and industry experts, such as Bitwise Chief Information Officer Matt Hougan, anticipate the launch of spot Ethereum ETFs within the next week.
Hougan predicts that spot ether ETFs could accumulate around $15 billion in net inflows within the first 18 months of their U.S. launch.
In other news, the German government has started selling off its confiscated Bitcoin