US Spot BTC ETFs See Largest Inflows This Week

US Spot BTC ETFs saw the largest net inflows this week on Friday, recording $310.21 million, according to SoSo Value data. These were also the largest inflows since June 5, as ETF investors began exiting their positions amid selling pressure from the German government moving huge amounts of bitcoin and anticipation of the Mt. Gox repayment.

Despite the price of bitcoin falling to prices lower than those seen last month, investors are returning to ETFs for buy the dipThe market remains bullish as the asset price is still much higher than it was a year ago or earlier this year.

Analysts say the Mt. Gox refunds could lead to a further drop in value. However, some argue that the market has already adjusted to the refunds. Still, the arrival of 140,000 bitcoins into the supply over the next three months seems worrisome to many holders.

Still, ETF inflows are strong. On Friday, BlackRock’s IBIT fund attracted $120 million, Fidelity’s FBTC $115.1 million, Bitwise’s BITB $28.42 million, Grayscale’s GBTC $23.01 million, and Ark Invest’s ARKB $13.02 million. VanEck’s HODL and Invesco and Galaxy Digital’s BTCO funds saw individual inflows of less than $10 million. ETFs issued by Valkyrie Digital Assets, WisdomTree, Hashdex, and Franklin Templeton saw no inflows or outflows. No funds saw outflows.

Friday’s inflows brought the total inflows for the week to $1.04 billion. Since the ETFs launched in January, the products have seen $15.8 billion in net inflows. Grayscale alone has been responsible for $18.6 billion in outflows since its inception. However, all ETFs except Hashdex’s product have seen net inflows. Hashdex has seen $2 million in net outflows so far.

As BTC ETF action heats up, analysts believe ETH ETFs will launch by July 15. The Securities and Exchange Commission (SEC) has said this will happen at some point. this summer.

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