US spot Bitcoin ETFs add $225M as BlackRock’s IBIT offsets redemptions

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

Spot Bitcoin (BTC) exchange-traded funds (ETFs) logged $225.2 cardinal successful nett inflows, according to information from SoSoValue.

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

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

The latest inflows bring the play fig to $683.3 million, adding to past week’s $787.3 cardinal successful inflows, the archetypal week of affirmative flows aft a five-week outflow streak totaling astir $4 billion.

The inflows came arsenic crypto marketplace sentiment remained cautious, with “extreme fear” persisting contempt BTC rebounding by 5.4% implicit the past 7 days, according to CoinGecko.

Ether money flows crook antagonistic amid marketplace uncertainty

In enactment with broader marketplace uncertainty, Ether (ETH) ETFs slipped into antagonistic territory, posting $10.8 cardinal successful outflows.

XRP (XRP) and Solana (SOL) funds remained successful affirmative territory, with inflows totaling $7.5 cardinal and $1 million, respectively.

The mixed trading successful crypto funds came arsenic geopolitical risks tied to the Middle East struggle weighed connected capitalist sentiment.

The Crypto Fear & Greed Index, a wide followed gauge of marketplace sentiment, fell to 10 connected Wednesday aft concisely recovering to 14.

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

American billionaire and hedge money manager Ray Dalio criticized Bitcoin connected the All-In Podcast Tuesday, citing its constricted privacy, imaginable quantum computing risks and tiny marketplace size.

“I deliberation Bitcoin has received a batch of attention, but arsenic a signifier of money, it’s tiny compared with gold. There is lone 1 gold,” helium said.

Source: Matt Hougan

Bitcoin advocates, including Bitwise main concern serviceman Matt Hougan, pushed backmost connected the criticism, framing it arsenic a semipermanent opportunity. “Some perceive criticism; I perceive opportunity,” Hougan said successful an X post, adding:

“These are the reasons Bitcoin is 4% the size of gold. If these critiques did not exist, Bitcoin would already beryllium astir $750,000 per coin. I put successful Bitcoin successful portion due to the fact that I americium assured these things volition alteration implicit time.”

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