According to data from Farside, United States Bitcoin ETFs recorded inflows worth $422.5 million on Tuesday. This is the highest inflow tally since June 5th, extending the eighth-day winning streak.
US Bitcoin ETFs Inflows Amid Price Surge
According to the on-chain data provided by CoinGecko, Bitcoin (BTC) is currently worth $65,289, a 3.9% surge in the last 24 hours. Earlier today, during Asian trading hours, Bitcoin surged to $66,000.
The market recovery comes despite the German government’s BTC offloading and Mt. Gox client repayments. According to Farside, BlackRock’s IBIT received over $260 million on July 16th, accounting for the highest inflows.
On the other hand, Fidelity Wise Origin Bitcoin Fund’s FBTC amassed $61.1 million. Also, the ARK 21Shares Bitcoin ETF (ARKB) drew in $29.8 million.
The remaining ETFs, BITB, BTCO, EZBC, and BRRR, drew in under $30 million in inflows. However, GBTC, DEFI, and BTCW pulled zero inflows.
The 11 spot Bitcoin ETFs have collectively earned over $1 billion in the last three days. The Crypto Fear and Greed index shifted from 25 (extreme fear) to 69 (Greed) today.
The change in the market sentiment can be tied to the possibility of pro-crypto Republican candidate Donald Trump winning the U.S. presidential election on Nov. 4.
In addition, DJT appointed James David Vance, a BTC holder and Ohio Republican senator, as his running vice president.
Also, crypto traders and investors are watching ETH price movements amid reports that spot Ethereum ETFs will likely begin trading on July 23, 2024. Ethereum has hit the $3,500 mark in early Asian trading hours and is currently worth $3,500, a 0.2% increase in the last hour and a 3.3% spike in the last 24 hours.