Crypto: Us Spot Bitcoin Etfs Add $225m As Blackrock’s Ibit Offsets Redemptions

BlackRock’s spot Bitcoin ETF drew $322 million in inflows Tuesday, offsetting outflows from rival funds including Fidelity and Grayscale.

US spot Bitcoin ETFs saw mixed trading flows on Tuesday, with BlackRock’s iShares Bitcoin Trust ETF (IBIT) offsetting redemptions.

Spot Bitcoin (BTC) exchange-traded funds (ETFs) logged $225.2 million in net inflows, according to data from SoSoValue.

The gains were driven largely by IBIT’s $322.4 million in inflows, which offset $89.3 million in outflows from Fidelity Wise Origin Bitcoin Fund (FBTC) and $28.2 million from Grayscale Bitcoin Trust ETF (GBTC), according to Farside data.

The inflows bring this week’s total to $683.3 million, following $787.3 million in inflows last week — the first positive week after five consecutive weeks of outflows totaling nearly $4 billion.

The inflows came as crypto market sentiment remained cautious, with “extreme fear” persisting despite BTC rebounding by 5.4% over the past seven days, according to CoinGecko.

In line with broader market uncertainty, Ether (ETH) ETFs slipped into negative territory, posting $10.8 million in outflows.

XRP (XRP) and Solana (SOL) funds remained in positive territory, with inflows totaling $7.5 million and $1 million, respectively.

The mixed trading in crypto funds came as geopolitical risks tied to the Middle East conflict weighed on investor sentiment.

The Crypto Fear & Greed Index, a widely followed gauge of market sentiment, fell to 10 on Wednesday after briefly recovering to 14.

Source: CoinTelegraph