Bitcoin ETFs log $31 million in net inflows after week of decline

U.S.-based exchange-traded funds that track the spot price of Bitcoin reversed course on June 25, posting $31 million in net inflows after a week of outflows that saw $1.1 billion in outflows over seven straight trading days.

Outflow Trend Reverses

This can be highlighted by all the notabilities shown in data from SoSo Value, where, on June 25, the Fidelity Wise Origin Bitcoin Fund has been the largest inflow, at $49 million. The Bitwise Bitcoin ETF came in second, with $15 million, while the VanEck Bitcoin Trust ETF followed in third, adding $4 million in net inflows.

        

                            Here is the recreated chart showing the Bitcoin ETF flow data

In contrast, the Grayscale Bitcoin Trust shed a net $30.3 million, while the ARK 21Shares Bitcoin ETF lost a net $6 million. Inflows were largely positive except that BlackRock's iShares Bitcoin Trust ETF, with $1.538 billion, the largest in terms of assets under management, did not attract any inflows on 25 June. ETFs offered by Invesco Galaxy, Valkyrie, and Franklin Templeton also failed to attract any inflows on the same day.

Year-to-Date Inflows and Market Impact

Since January, the 11 spot Bitcoin funds accumulated net inflows of $14.42 billion, signalizing the growing interest and confidence of investors in Bitcoin ETFs. Off the recent reversal of outflows, renewed investor sentiment and interest in Bitcoin as a key asset are shown.

Upcoming Spot Ether ETFs

Following events in the crypto ETF space, it appears that spot Ether ETFs are finally ready to debut. Since the United States Securities and Exchange Commission gave a soft green light back in May, issuers finalize their registrations, while some plan to commence trading by July 2. The most famous ones, according to an investment manager, VanEck, filed with the SEC on June 25 a Form 8-A. It is set to bring its spot Ether ETF considerably closer to launch.

Bitcoin Price Movement

Coinciding with the optimism, the price of Bitcoin has risen from $61,359 on June 25 to $61,732 at the time of going to press—a 0.6% increase based on TradingView data.