Bitcoin ETFs Record Third-Highest Inflows, Trading Volumes Surge
Spot bitcoin ETFs experienced their third-highest inflows on Tuesday, adding over $870 million. The total trading volumes surpassed $4.75 billion, reaching the highest level since March. BlackRock’s IBIT alone contributed $3.3 billion to the trading volume.
Bloomberg ETF analyst Eric Balchunas anticipates even larger inflow figures in the coming days. He noted that the significant trading volume of $3.3 billion for IBIT is unusual, considering Bitcoin’s 4% increase on the day. Balchunas explained that ETF volume typically spikes during market downturns or crises. However, he suggested that the current volume surge could be attributed to a “FOMO-ing frenzy” driven by the recent price surge. If this is the case, Balchunas expects to see substantial inflows throughout the week.
