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.ukThe 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.meAmerican 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 HouganBitcoin 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
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