Bitcoin ETFs see a respite of USD $31 million amid the streak of exits – DiarioBitcoin
By Hannah Perez
Spot Bitcoin-based ETFs in the US had their first daily capital inflow in two weeks. They had been accumulating outflows of more than USD $1 billion.
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- Outflow streak for US spot Bitcoin ETFs broken
- On Tuesday they had their first entry in two weeks for USD $31 million
- They had been accumulating outflows of more than USD $1,000 million
Amid a streak of net capital outflows, US exchange-traded funds (ETFs) Bitcoin Americans saw their first inflow in two weeks.
The 11 ETFs based on Bitcoin US spot markets on Tuesday recorded a net inflow of $31 million after having been accumulating continuous outflows over the past two weeks of more than $1.1 billion.
The funds had maintained an unprecedented streak of capital inflows during May that extended until June 10, when the group experienced its first daily outflow amid a price correction in the crypto market. Since then, the ETFs had seen only daily withdrawals, except for a single session of inflows on June 12.
The ETF Fidelity, FBTC, contributed the majority of inflows on Tuesday, with a positive flow of $48.8 million. It was followed by BITB of Bitwise with a daily income of USD $15.2 million on the day. Finally, the product was positioned VanEckHODL, with a daily income of USD $3.5 million.
Most ETFs Bitcoin spot recorded outflows on Tuesday, while ARKB of ark and 21Shares and GBTC of Grayscale They recorded net capital outflows of USD $6.2 million and USD $30.3 million, respectively.
IBIT of BlackRockthe largest fund with direct exposure to Bitcoin In terms of net asset value, it recorded no flows, despite having a daily trading volume of $1.1 billion on Tuesday. The funds of Invesco, Valkyrie, WisdomTree, Hashdex and Franklin Templeton They also recorded zero flows yesterday.
The ETFs of Bitcoin Americans, which debuted in January, racked up a total net inflow of $14.42 billion as of Tuesday, according to data provided by Farside Investors.
Bitcoin (BTC) hit its lowest level in several weeks when it fell below $60,000 on Monday. While it has remained bearish since then, it is currently showing modest signs of recovery above $61,000.
Meanwhile, fund issuers are preparing to launch ETFs Ethereum spot in the U.S. The managers received a key approval from the Securities and Exchange Commission (SEC) last month and are now filing amendments to S-1 filings. Eric Balchunas, Senior ETF Analyst at Bloomberghas estimated that ETFs Ethereum cash will be launched next week.
Article by Hannah Estefanía Pérez / DailyBitcoin
Picture of Unsplash
WARNING: This is an informative article. DiarioBitcoin is a media outlet, it does not promote, endorse or recommend any particular investment. It is worth noting that investments in cryptoassets are not regulated in some countries. They may not be suitable for retail investors as the entire amount invested could be lost. Check the laws of your country before investing.
