Bitcoin ETFs Continue Inflow Streak Amid Outflows in Ether and Zcash Funds
- US spot Bitcoin ETFs saw net inflows of $66.2 million on Tuesday, extending their streak to nine days.
- Total net inflows for Bitcoin ETFs during this period reached approximately $3.1 billion, with year-to-date inflows at about $1 billion.
- In contrast, Ether ETFs experienced a reversal, posting around $3 million in net outflows after a seven-day inflow of over $851 million.
- Zcash ETFs also faced challenges, recording $8 million in net outflows after six consecutive days of inflows.
- As of publication, Bitcoin was trading at approximately $83,567, down by 0.4% over the past day.
- The Crypto Fear & Greed Index slipped to a score of 71 from the previous day’s score of 73, indicating softened market sentiment.
The ongoing success of Bitcoin ETFs highlights strong investor interest despite recent outflows in altcoin funds like Ether and Zcash. Market dynamics are shifting as energy prices influence asset performance.
With Bitcoin’s ETF inflows reaching about $3.1 billion during its nine-day streak, the market remains focused on these trends amidst fluctuating sentiments in other cryptocurrency sectors.
