Bitcoin broke through 71K, and the daily inflow of BTC ETF reached 880M, the best since March

On Tuesday, US-listed spot Bitcoin ETFs saw inflows of more than $880 million, led by Fidelity's FBTC. Bitcoin topped $71,000 during Asian trading hours, up 3 percent in the past 24 hours, while the CoinDesk 20 index gained 2.65 percent.

According to provisional data released Wednesday, Fidelity's FBTC attracted $378 million in inflows on Tuesday, making it the highest ETF inflow of the day. It was followed by BlackRock's IBIT with $270 million in inflows, while Grayscale's GBTC, despite being known for outflows, attracted $28 million in inflows.

This marked the best daily inflow since March and the second highest total inflow since the listing of 11 Bitcoin ETFs in January. In the Middle East during the weeks of April and early May, market sentiment was subdued and inflow activity has increased recently. During this period, some days even saw zero net inflows or outflows from major ETFs, such as BlackRock's IBIT.

  Bloomberg analyst Eric Balchunas said on X that in the past four weeks, total ETF inflows have reached $3.3 billion, and its year-to-date net inflows have exceeded $15 billion.

This increase in inflow activity comes in the weeks following the approval of the Ethereum (ETH) spot ETF listing in the United States and the positive outlook for cryptocurrencies during the U.S. presidential election. Tuesday's inflows are as follows:

FBTC: $378.7 million

IBIT: $274.4 million

BITB: $61 million

ARKB: $138.7 million

BTCO: 0

EZBC: 0

BRRR: $1.6 million

HODL: $4 million

BTCW: 0

GBTC: $28.2 million

DEFI: 0

Total inflows: US $886.6 million (provisional figures)

These figures highlight the recent change in market sentiment and increased investor confidence in Bitcoin and related ETFs. As the cryptocurrency market continues to evolve, so does the adoption and liquidity of Bitcoin and crypto assets, which could have important implications for the long-term price movement of Bitcoin.