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U.S. spot bitcoin ETFs recorded $381.4 million in net inflows on Monday, marking their largest daily inflow since Jan. 30.
Bitcoin held steady while major U.S. stock indexes and the dollar declined on the day.
U.S. spot bitcoin exchange-traded funds recorded $381.4 million in net inflows on Monday — marking their largest daily inflows since Jan. 30 — as bitcoin outperformed traditional financial markets amid sharp declines in major U.S. stock indexes and the dollar.
Ark and 21Shares' ARKB saw the largest inflow among the 12 ETFs yesterday, with $116.1 million flowing into the fund, according to SoSoValue data. Fidelity's FBTC followed with $87.6 million in inflows, while Bitwise's BITB reported inflows of $45.1 million. BlackRock's IBIT, the largest spot bitcoin ETF by net assets, logged inflows of $41.6 million.
Monday’s $381 million inflow came as bitcoin held steady, briefly rising above $88,000 multiple times amid a market sell-off in the TradFi world. It was also the largest single-day inflow the ETFs had recorded in over two months.
The U.S. dollar fell to a three-year low as global trade negotiations remained at a standstill and President Donald Trump renewed his criticism of Federal Reserve Chair Jerome Powell. Trump called for "preemptive rate cuts" and referred to Powell as "Mr. Too Late."
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"Overnight price action signals that Trump's pressure on the Fed is furthering USD confidence erosion, with equities, bonds, and the DXY falling, while gold and Bitcoin
BTC +3.14%
rally," Peter Chung, head of research at Presto Research, said in a research note. He noted that the USD's declining dominance appears to be structural, with the U.S. share of global GDP halved since World War II. "As asset allocators seek to diversify USD exposures, bitcoin is increasingly a compelling option," he said.
Bitcoin climbed 0.76% in the past 24 hours to trade at $88,176 at the time of writing, according to The Block's price page. Ether fell 4% to $1,581. Total trading volume for the 12 spot bitcoin ETFs amounted to $3.75 billion on Monday, compared to $1.55 billion on Thursday.
Meanwhile, spot ether ETFs saw $25.4 million leave the products.
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