ETFs saw $21 million in inflows as Bitcoin fell back to $60,000 – DiarioBitcoin
By Hannah Perez
US Bitcoin spot ETFs closed their second session of inflows amid a streak of outflows, even as Bitcoin suffered turmoil and sank to $60,000.
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- Wednesday was the second day of inflows for spot Bitcoin ETFs in the US.
- Amid the streak of outflows, ETFs see a ray of light, although it is still early to celebrate
- Bitcoin saw strong turmoil and fell to USD $60,000 on Wednesday before recovering
Exchange-traded funds (ETFs) Bitcoin in the United States, experienced their second day of net capital inflows amid a bearish streak —both for the class of products and for the market.
According to the data provided by Farside Investorsthe 11 ETFs of Bitcoin American spot On Wednesday, they recorded a combined income of USD $21.4 million, slightly lower than the income of USD $31 million on Tuesday.but a positive change compared to the seven bearish sessions that preceded it.
During May, products with direct exposure to Bitcoin had recorded a long streak of record inflows that extended until June 10, when the group began experiencing daily capital outflows. That negative trend continued until Tuesday of this week and with the exception of a single session of entries on Wednesday, June 12.
In particular, activity for ETFs Bitcoin has been down in recent days, with a low volume of capital inflows and outflows, suggesting less appetite on the part of investors.
Only three products closed Thursday with capital inflows, while one registered outflows. Namely: ETFs managed by Fidelity, Grayscale and VanEck, had revenues of USD $18.6 million, USD $4.3 million and USD $3.4 million, respectively; vs. ARKB Ark Invest which closed with a net outflow of USD $5 million.
As of yesterday, the ETF group had accumulated a positive flow of USD $14.44 billion, according to the data.
The second day of capital inflows within a three-week period occurred despite continued bearish price action in the digital currency market. Bitcoin (BTC) plunged to $60,000 on Wednesday, reaching its lowest price since early May and accumulating a loss of just over 12% in the last 30 days.
BTC has recovered since Wednesday’s correction, trading around USD $61,700, with a modest gain of 0.77% in the last 24 hours, at the time of publication of this note.
Article by Hannah Estefanía Pérez / DailyBitcoin
Picture of Unsplash
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