Spot Bitcoin ETF continue to gather momentum as Farside UK data reveals net inflows of $31.6 million on Tuesday, April 23. This surge was led by industry giants like BlackRock’s iShares Bitcoin Trust (IBIT) and Ark 21Shares Bitcoin ETF (ARKB). However, Grayscale’s GBTC Bitcoin ETF witnessed higher outflows on Tuesday.

Spot Bitcoin ETF Record Positive Flows For Second Consecutive Day

The Blackrock IBIT ETF boasted inflows of $37.9 million. Meanwhile, the ARKB Bitcoin ETF registered a net inflow of $33.3 million. Furthermore, the Bitwise BTC ETF (BITB) follows closely with $23.2 million in inflows, showcasing sustained investor interest in crypto exposure through regulated investment vehicles.

However, Fidelity Wise Bitcoin ETF (FBTC) faced a challenging day. FBTC recorded only $4.4 million in inflows, signaling a temporary setback for the fund. Moreover, Grayscale Bitcoin Trust (GBTC) experienced a notable uptick in outflows, surging to $66.9 million from $35 million recorded Monday.

In addition, the net inflows for the 11 Spot Bitcoin ETFs declined by nearly 50% from the week’s inception. On Monday, these ETFs garnered an influx of $62.2 million, largely influenced by the decrease in FBTC inflows and soaring GBTC outflows.

Nonetheless, for three consecutive days these ETFs bought over 100% of total BTC mined in a day after Halving. Since last Friday, the net purchase of Bitcoin ETFs includes 2,177 BTC. Whilst, excluding the GBTC outflows, the purchase amounts to 4,468 BTC.

Meanwhile, the Bitcoin price maintains a sideways trajectory. However, the BTC ETFs remain active participants despite the sideways action. Notably, Tether’s continued accumulation of Bitcoin and El Salvador’s daily acquisition of 1 BTC are expected to positively influence the BTC price.

Also Read: Hong Kong’s Spot Bitcoin ETF and Ethereum ETF To Start Trading On April 30

Bitwise CEO Spotlights RIA Adoption Of Crypto

In a post on X, Bitcoin ETF Issuer Bitwise’s CEO Hunter Horsley highlighted the growing adoption of BTC and crypto among the Registered Investment Advisors (RIAs). According to Horsley, within the last few days, three RIAs overseeing AUM ranging from $100 million to $2 billion each, serving hundreds of families, have made significant moves towards integrating digital assets into their portfolios.

The outlined allocations include proposals for a 2% allocation to Bitcoin for all clients and discretionary allocations ranging from 3% to 10%. In addition, they propose a 2.5% allocation to Bitcoin and crypto equities integrated into investment models.

Furthermore, Hunter shared an email receipt from a prominent RIA expressing their intention to utilize Bitwise investment solutions such as BITB, BITW, and BITQ, signaling a broader adoption of Bitwise’s diversified approach to digital asset investment. He added that Bitwise, known for offering a range of investment solutions in the crypto space, now finds itself increasingly embraced as a partner by advisors.

Also Read: Bitcoin ETF Regain Momentum As Investment Advisors Pour $40M In FBTC

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