Bitcoin ETFs stretch $3.1B inflow streak as Ether funds turn red
Written by Helen Partzstaff writerReviewed by Yohan Yunstaff editorEther ETFs shed $3 million Tuesday after seven days of inflows, following an $8 million outflow from Zcash funds at the start of the week.
US spot Bitcoin exchange-traded funds (ETFs) extended their net inflow streak to nine trading days, while Ether and Zcash funds flipped to outflows.
Bitcoin ETFs attracted $66.2 million on Tuesday, bringing net inflows over their winning streak to roughly $3.1 billion, according to data from SoSoValue. The year-to-date net inflows rose to roughly $1 billion.
However, some altcoin funds saw a reversal. Spot Ether ETFs ended their seven-day streak by posting roughly $3 million in net outflows on Tuesday. The funds had attracted more than $851 million during the seven sessions, bringing cumulative net inflows to about $14 billion.
Earlier in the week, Zcash ETFs snapped a six-day inflow streak after recording $8 million in net outflows on Monday.
Bitcoin traded at about $83,567 at the time of publication, down 0.4% over the past 24 hours, according to CoinGecko. Crypto market sentiment also softened slightly, with Alternative.me’s Crypto Fear & Greed Index slipping to 71 from 73 a day earlier, while remaining in “Greed” territory.
“The rise in crude prices is capping non-yielding assets, so Bitcoin’s rally has taken a bit of a pause,” Kyle Rodda, senior financial market analyst at Capital.com, told Cointelegraph.
Rodda said Bitcoin could struggle to regain upward momentum while energy-price risks persist, though its technical picture remained “quite constructive.”
Related: Bitcoin ETF inflows leave institutional demand unclear: CoinShares
