According to data provided by SoSoValue, Bitcoin exchange-traded funds (ETFs) attracted a total of $52.4 million worth of net inflows on Tuesday.
These products have managed to attract $1.7 billion of inflows in the first four trading days of this year, according to analyst Nate Geraci.
However, BlackRock’s iShares Bitcoin Trust ETF (IBIT) was the only ETF in green on Tuesday. It recorded a total of $596 million worth of inflows, logging one of its most successful days to date.
That said, other ETF products severely underperformed, with ARK 21Shares Bitcoin ETF (ARKB) bleeding $212 million.
Grayscale Bitcoin Trust ETF (GBTC) and Bitwise Bitcoin ETF (BITB) recorded $125 million and $114 million worth of outflows, respectively.
As reported by U.Today, the Bitcoin price collapsed to as low as $95,259 after key U.S. economic data revived concerns about stickier-than-expected inflation. This also coincided with a significant stock market drop.
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The leading cryptocurrency plunged by nearly 6% while top altcoins expectedly took an even bigger hit.
Bitcoin ETFs were, of course, the biggest cryptocurrency story of the previous year, and some analysts are convinced that they will continue dominating in 2025 as well. Bitwise, for instance, expects these products to log even bigger inflows this year.
BlackRock’s IBIT currently has nearly $54 billion worth of net assets. Fidelity’s FBTC recently surpassed the $20 billion mark.
Ethereum spot ETFs have also secured nearly $2.7 billion in cumulative net inflows, with BlackRock’s ETHA approaching $4 billion in net assets.
