Bitcoin BTC/USD and Ethereum BTC/USD spot ETFs saw combined net inflows of $974.7 million on Tuesday, reflecting sustained investor interest in cryptocurrency funds.

What Happened: Bitcoin spot ETFs recorded $936 million in net inflows, marking three consecutive days of positive flows, while Ethereum spot ETFs added $38.7 million, with all nine funds showing gains.

Data from SoSoValue reveals that Bitcoin spot ETFs have been a major driver of recent market activity.

BlackRock's IBIT led with a daily net inflow of $194.3 million, bringing its cumulative net inflow to $39.9 billion and net assets to $57.20 billion.

Fidelity's FBTC followed with $25.8 million in daily inflows, while Grayscale's GBTC saw outflows of $22.6 million, reducing its net assets to $17.5 billion.

Other funds, including Ark Invest's ARKB and Bitwise's BITB, recorded inflows of $26.7 million and $22.1 million, respectively.

The total value traded across Bitcoin spot ETFs reached $496.3 million, with net assets amounting to $56.6 billion, equivalent to 2.77% of Ethereum's market cap.

Also Read: Brandon Lutnick, Tether, SoftBank Back $3 Billion Bitcoin Venture

Why It Matters: Ethereum spot ETFs also showed steady demand, with no outflows recorded across the nine funds tracked.

BlackRock's ETHA posted zero daily net inflow but holds $4.05 billion in cumulative inflows and $2 billion in net assets.

Grayscale's ETHE saw outflows of $42.4 million, yet its net assets remain at $1.9 billion.

Fidelity's FETH led Ethereum ETFs with a daily net inflow of $31.6 million, boosting its cumulative inflows to $649.70 million.

The total net assets for Ethereum spot ETFs stand at $5.6 billion, reflecting growing institutional exposure to the second-largest cryptocurrency.

The consistent inflows into Bitcoin spot ETFs over three days signal robust investor confidence, despite a 4.29% rise in the broader crypto market cap to $3.04 trillion.

Ethereum spot ETFs, while smaller in scale, demonstrate steady interest, with funds like VanEck's ETHV and Franklin Templeton's EZET adding $31 million and $36.5 million in cumulative inflows, respectively.

The absence of outflows in Ethereum ETFs displays a positive market sentiment as of Apr. 22.

Read Next:

• XRP, Ethereum, Solana, Dogecoin Surge 10% On Bitcoin’s $94,000 Push: How High Can They Go?

Image: Shutterstock