Bitcoin ETFs Add $250M on Mar 10, ETH ETFs Rise Amid War Fears

Key Insights:

• Bitcoin ETFs reported $250.92M net inflows for March 10th, BlackRock scooped $185M.
• Ethereum ETFs reported $12.59M net inflows for Tuesday, and HBAR spot ETFs scooped up $655K. Moving ahead, XRP spot ETFs reported net outflows of $3.88M.
• BTC price hovered above $69,000 on Wednesday morning, dipping below Tuesday’s high of $71K. Uncertainty around the Iran war remains, as neither side is backing down.

US Bitcoin (BTC) spot exchange-traded funds (ETFs) reported net inflows of $250.92 million on March 10th, per SoSoValue. BTC price briefly rose above $71,000 on Tuesday, reflecting a 2%+ rise above Monday’s close.

Ethereum (ETH) spot ETFs reported net inflows of $12.59 million, and Hedera (HBAR) spot ETFs added $655.15K. XRP Spot ETFs reported $3.88 million net outflows.

Other US crypto spot ETFs reported zero flows yesterday. The Iran war is far from over, and the ripples are being felt across the world; Oil prices displayed strong volatility throughout Tuesday.

US Defence Secretary Pete Hegseth reportedly said Tuesday that “Today [Tuesday] will be, yet again, our most intense day of strikes inside Iran.”

Bitcoin ETFs Pull $250.92M on Tuesday, BlackRock Leads Inflows

BlackRock BTC spot ETF (NASDAQ: IBIT) reported $185.76 million in inflows. This marked the biggest inflow among the six funds that reported inflows on Tuesday, according to SoSoValue data.

None of the funds reported outflows yesterday. Total traded value for Bitcoin ETFs stood at $3.6 billion, roughly 8% below Monday’s volume.

Other inflows yesterday: Fidelity added $33.54 million in inflows yesterday, and Bitwise brought in $16.35 million. At the same time, VanEck added $5.94 million. Grayscale BTC Mini and Ark 21Shares added $5.27 million and $4.07 million, respectively.

With Tuesday’s inflows, the weekly net inflows stand at $417.95 million, maintaining a three-week net inflow streak.

Fidelity’s Ethereum spot ETF (CBOE: FETH) led ETH ETFs’ Tuesday net inflows with its $10.66 million scoop. Grayscale’s Mini ETH ETF (NYSE: ETH), the only other ETH buyer yesterday, added $1.93 million.

None of the other seven Ethereum ETFs reported outflows. Bitwise’s XRP spot ETF (NYSE: XRP) was Tuesday’ only fund to report non-zero flows; shedding $3.88 million.

Canary HBAR ETF (NASDAQ: HBR) reported inflows of $655.15K, breaking a four-day hiatus. US spot ETFs tied to Solana, Dogecoin, Chainlink, Litecoin, and Avalanche reported zero flows yesterday. This shows no investor activity in these assets during that session.

BTC Price Crosses $71K Amid Iran War Uncertainty

At press time, Bitcoin price was below the $70,000 mark, displaying a 0.51% dip below Tuesday’s close ($69,963). Tuesday saw BTC price rise as high as $71,775 amid rising uncertainty around the Iran war.

Oil prices displayed a 11% dip at Tuesday’s close amid chatter about countries dipping into their emergency Oil reserves.

CNBC highlighted how the Iran conflict was affecting different parts of the world. Indian restaurants now face a gas crisis. Also, South Korea expressed concerns as the US planned to remove air defence assets from South Korea.

Analyst Ted Pillows noted in a Tuesday X post that BTC would not face significant resistance till $73,000. In another X post, Pillows highlighted that the monthly RSI chart, infering that BTC would reach its cycle bottom when the monthly RSI indicator would flash a sub-40 reading.

Neither side in the ongoing Iran conflict has shown signs of backing out. However, Trump recently indicated that a conclusion was imminent. Per CNBC, Iran defended strikes on its neighboring countries.

Meanwhile, Bitcoin flows in exchanges have shown wild moves. In the last 24 hours, Coinbase Pro saw nearly 15,000 BTC enter the exchange, CoinGlass data shows. More than 23,000 BTCs entered Bitfinxe alone in the last 24 hours.

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