ETFs
Spot the Bitcoin ETF Bounce, $137.2M in Four-Day Inflows
Bitcoin Cash in the United States (BTC) ETFs saw positive performance, recording four consecutive days of net inflows amounting to $137.2 million.
The recovery began on June 25, after a difficult week with a constant net result. exits in almost all funds.
Bitcoin Spot ETF Circulates June 25-28 | Source: Farside Investors
That day, by data According to Farside Investors, U.S. spot Bitcoin ETFs saw $31 million in net inflows, with Fidelity’s FBTC leading the charge with $48.8 million in inflows, followed by the Bitwise Bitcoin ETF (BITB) with $15.2 million. The VanEck Bitcoin Trust (HODL) also reported $3.5 million in net inflows.
Other funds remained broadly neutral, with the exception of Grayscale’s GBTC, which faced significant net outflows of $30.3 million. However, on June 26, GBTC recorded its first positive inflow since June 5, with the ETFs collectively seeing a net inflow of $21.4 million.
Once again, loyalty and VanEck posted gains, bringing in $18.6 million and $3.4 million worth of BTC, respectively. 21Shares’ ARK Invest and ARKB were the worst performing funds on June 26, recording nearly $5 million in net outflows.
On June 27, net inflows were much lower than the previous two days, with spot Bitcoin ETFs bringing in around $11.8. Activity was spread across five funds, with Bitwise responsible for the largest inflow, $8 million. Fidelity also had another positive day, recording $6.7 million in net inflows.
Invesco Galaxy’s BTCO fund also saw a positive inflow of $3.1 million after two consecutive days of zero net flows. The same phenomenon was observed on the Franklin Bitcoin ETF (EZBC), which saw an inflow of $3.6 million after two days of no net flows. GBTC, however, fell back into net outflows, losing about $11.4 million worth of Bitcoin.
On June 28, Bitcoin spot ETFs saw a total inflow of $73 million. Grayscale’s GBTC saw additional outflows of approximately $27.2 million, while BlackRock’s IBIT saw a one-day inflow of $82.4 million. ARKB also had a good day, recording revenues of $42.8 million. The rest of the funds saw no net flows despite a significant daily trading volume of $1.31 billion, according to SoSoValue.
Bitcoin ETF Spot Flow Activity Summary | Source: SoSoValue
To date, the 11 Bitcoin spot ETFs have attracted a total net inflow of over $14.5 billion since their launch in January 2024. ETFs Investments have been a major driver of Bitcoin’s record growth this year.
However, during the week that the positive flows occurred, the price of the cryptocurrency fell by more than 5%, perhaps influenced by the upcoming arrival of the new cryptocurrency. refunds to Mt. Gox creditors, which could add selling pressure to the market.
At the time of writing, the price of BTC was $60,862.07 and its market cap was $1,200,201,471,649, according to CoinGeckoThe price represented a 1.2% decline in the last 24 hours, meaning it underperformed the global cryptocurrency market, which was also down 3.6%.