Spot bitcoin ETFs gain $403M as inflow streak hits nine days

Spot Bitcoin (CRYPTO:BTC) exchange-traded funds registered $403 million in net inflows on Tuesday, marking their ninth consecutive day of gains, based on data from SoSoValue.

Over the past nine sessions, these Bitcoin funds have attracted a combined $4.4 billion from investors.

BlackRock's IBIT accounted for the largest single-day inflow, receiving $416.35 million.

VanEck’s HODL also saw positive movement, drawing in $19 million, while Grayscale’s Mini Bitcoin Trust and Bitwise’s BITB reported additional gains for the day.

However, net inflows were offset by outflows from three funds. Grayscale’s GBTC saw $41.22 million in withdrawals, Fidelity’s FBTC experienced $23 million in outflows, and Ark & 21Shares' ARKB reported $6.21 million in net redemptions.

Cumulative net inflows into spot Bitcoin ETFs have now reached $53.07 billion, according to SoSoValue analysis.

Since April, the funds have garnered nearly $17 billion, with institutional interest said to be a driving force behind the trend.

“Bitcoin ETFs have consistently attracted inflows since April, reflecting growing institutional interest and adoption by corporate treasuries,” said Min Jung, research analyst at Presto Research. “This steady demand has reinforced Bitcoin’s unique position in the digital asset space — there’s a stronger perception now that ‘there is no second best,’” said Jung.

Spot Ethereum ETFs also contributed, reporting their eighth consecutive day of net inflows, amounting to $192.33 million.

At the time of reporting, Bitcoin was trading at $117,373, up 0.25% for the day.

Despite pulling back from an all-time high of $123,000 set earlier in the week, Bitcoin has maintained a significant price floor.

“Bitcoin has been able to maintain a solid position at around $118K after core CPI data was lower than expected, prompting speculation that the Fed will be more likely to cut interest rates in September, potentially leading to a surge of demand for bitcoin,” stated LVRG Research Director Nick Ruck.

The funds’ positive movement follows a sustained growth period traced back to April.

At the time of reporting, Bitcoin price was $117,858.