Bitcoin ETFs Surge with $31 Million Inflows, Tether Freezes $550 Million

The spot Bitcoin ETFs saw significant net inflows yesterday, totaling USD 31.07 million, according to SoSoValue. BlackRock's IBIT led the pack with a daily net inflow of USD 54.84 million, while Grayscale's BTC recorded a daily net inflow of USD 10.32 million.

The total historical net inflow for IBIT now stands at USD 65.34 billion, and for BTC it is USD 2.96 billion. In contrast, the Bitcoin spot ETF with the highest net outflow was Grayscale's GBTC, which saw a daily net outflow of USD 23.19 million.

Tether announced that its cooperation with US authorities helped freeze approximately USD 550 million in USDT linked to Iran wallets for the US government. This is not the first time Tether has assisted in freezing USDT; earlier this year, it supported the US government in freezing more than USD 344 million in USDT across two addresses.

Hedera's HBAR price surged by about 25% in a day and reached its highest level since early January, hitting around USD 0.13. The asset's market capitalization has risen above USD 5 billion, making it the 26th-largest cryptocurrency.