Bitcoin ETFs See $225M Inflows Led by BlackRock’s IBIT

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.

Flows in US spot Bitcoin ETFs by issuer (in millions of US dollars). Source: Farside.co.uk

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.

Ether fund flows turn negative amid market uncertainty

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.

The Crypto Fear & Greed Index. Source: Alternative.me

American billionaire and hedge fund manager Ray Dalio criticized Bitcoin on the All-In Podcast Tuesday, citing its limited privacy, potential quantum computing risks and small market size.

“I think Bitcoin has received a lot of attention, but as a form of money, it’s small compared with gold. There is only one gold,” he said.

Source: Matt Hougan

Bitcoin advocates, including Bitwise chief investment officer Matt Hougan, pushed back on the criticism, framing it as a long-term opportunity. “Some hear criticism; I hear opportunity,” Hougan said in an X post, adding:

Magazine: Would Bitcoin really be at $200K if not for Jane Street? Trade Secrets

Cointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently. Read our Editorial Policy https://cointelegraph.com/editorial-policy

Source: https://cointelegraph.com/news/bitcoin-etf-225-million-inflows-blackrock-ibit-counters-selling?utm_source=rss_feed&utm_medium=feed&utm_campaign=rss_partner_inbound