U.S. spot bitcoin and Ethereum exchange-traded funds saw net
DEEKELZO
Updated at: 7 hours ago
{"content":"U.S. spot bitcoin and Ethereum exchange-traded funds saw net inflows totaling $340 million on Tuesday, recovering from the previous day's combined $755 million outflow that followed a weekend of historic crypto liquidations.
According to data from SoSoValue, spot bitcoin ETFs reported $102.6 million in total daily net inflows yesterday, with Fidelity's FBTC leading inflows with $132.67 million. While funds from Ark & 21Shares and Bitwise also recorded positive flows, BlackRock's IBIT had $30.8 million in net outflows, along with $14 million moving out from Valkyrie's BRRR.
Spot Ethereum ETFs also saw a combined daily net inflow of $236.22 million, spread across six funds. Fidelity's FETH led inflows again with $154.62 million, with other funds from Grayscale, Bitwise, VanEck and Franklin Templeton reporting notable inflows.
Vincent Liu, CIO at Kronos Research, previously told The Block that Monday's $755 million in outflows reflect cautious sentiment among institutional investors following the weekend market meltdown.
Crypto saw one of its largest liquidation events in history last weekend, wiping out over $500 billion in market capitalization and pushing down crypto prices by 10%. This was triggered by U.S. President Donald Trump's confirmation that he would impose a 100% tariff on Chinese imports.
While prices have somewhat recovered, the market remains subdued amid concerns of a prolonged trade war between the U.S. and China. Analysts expect the crypto market to remain volatile in the weeks ahead, as traders remain sensitive to U.S.-China trade headlines and other macroeconomic news.
"We wouldn't read too much into the day-to-day action yet, as we should expect reactions to be noisy after Friday's multi-sigma selloff, and would expect markets to remain choppy as headline risks increase as we head into the supposed Nov. 1 tariff deadline,#TrumpTariffs
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