US spot Bitcoin ETFs recorded $524 million in net inflows on Tuesday, with BlackRock, the asset management giant, and Fidelity, the financial services leader offering spot Bitcoin exchange-traded products, leading the surge in institutional investment.

Inflows reflect renewed institutional interest in Bitcoin amid broader market conditions. Spot Bitcoin exchange-traded products provide indirect exposure to crypto prices through traditional stock market exchanges.

After several days of net outflows, US spot Bitcoin ETFs saw a sharp influx on November 11, pointing to a potential reversal of recent trends. Still, the prior week’s sustained outflows underscored ongoing caution among institutional investors.

BlackRock and Fidelity are capitalizing on temporary market conditions to bolster their Bitcoin holdings as part of the ongoing mainstream integration of crypto assets.