US spot Bitcoin ETFs recorded mixed flows on Tuesday, with BlackRock’s iShares Bitcoin Trust (IBIT) offsetting redemptions across other funds. According to SoSoValue, spot Bitcoin ETFs logged $225.2 million in net inflows.
The advance was driven mainly by IBIT’s $322.4 million of inflows, which more than balanced outflows of $89.3 million from Fidelity Wise Origin Bitcoin Fund (FBTC) and $28.2 million from Grayscale Bitcoin Trust ETF (GBTC), per Farside data.
Those moves lift this week’s total to $683.3 million after last week’s $787.3 million of inflows — the first positive week following five straight weeks of outflows that totaled nearly $4 billion.
Market sentiment remained cautious despite Bitcoin’s 5.4% gain over the past seven days, with CoinGecko data showing continued “extreme fear.”
Ether funds slipped into negative territory amid the uncertainty, posting $10.8 million in outflows. XRP and Solana funds stayed positive, drawing $7.5 million and $1 million, respectively.
Geopolitical tensions in the Middle East contributed to risk-off positioning. The Crypto Fear & Greed Index fell to 10 on Wednesday after briefly rising to 14, per Alternative.me.
On the All-In Podcast, billionaire investor Ray Dalio criticized Bitcoin, pointing to limited privacy, possible vulnerabilities from future quantum computing and the asset’s small market size. “I think Bitcoin has received a lot of attention, but as a form of money, it’s small compared with gold. There is only one gold,” he said.
Bitcoin proponents pushed back. Bitwise CIO Matt Hougan responded on X, framing the critiques as a reason for long-term opportunity: “These are the reasons Bitcoin is 4% the size of gold. If these critiques did not exist, Bitcoin would already be around $750,000 per coin. I invest in Bitcoin in part because I am confident these things will change over time.”
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