Bitcoin ETFs Hit New High, but Altcoin Funds See Reversal

Bitcoin exchange-traded funds (ETFs) in the US have continued their streak of attracting net inflows, now at nine trading days. According to data from SoSoValue, these ETFs drew $66.2 million on Tuesday, bringing the total net inflows over this period to roughly $3.1 billion. The year-to-date net inflows for Bitcoin ETFs rose to about $1 billion.

This success is in contrast to some altcoin funds, which have seen a reversal. Spot Ether ETFs ended their seven-day streak of attracting funds by posting net outflows of around $3 million on Tuesday. These funds had drawn more than $851 million during the previous seven sessions, with cumulative net inflows reaching about $14 billion.

Zcash ETFs also snapped a six-day streak of inflows after registering $8 million in net outflows on Monday. At the time of writing, Bitcoin traded at approximately $83,567, down 0.4% over the past 24 hours according to CoinGecko.