Spot Bitcoin ETFs recorded inflows for a second day in a row on Wednesday.
On June 26, the ETF saw net inflows of $21.52 million.
Between June 13 and June 24, these ETFs saw outflows of $1.1 billion.
Sept_vir926 Spot bitcoin exchange-traded funds (ETFs) saw inflows for a second day on Wednesday totaling $21.52 million, reversing a recent trend of sustained outflows and offering a potential bright spot for investors as bitcoin prices struggle.
Data from SoSoValue shows that Bitcoin ETFs have extended their streak of positive inflows. The trend began to emerge on Tuesday as BTC prices struggled to stay above $61,000. Notably, ETF outflows totaled $1.1 billion in the seven trading days between June 13 and June 24, sparking concerns among investors.
Since being approved in January, bitcoin spot ETFs have seen $14.4 billion in inflows, led by BlackRock’s iShares Bitcoin Trust (IBIT), which has seen $18 billion in inflows since its launch and net assets of $18.58 billion as of June 26, according to SoSoValue. However, IBIT saw no net inflows on Wednesday. Invesco Galaxy, Valkyrie and Franklin Templeton’s offerings were also flat.
Fidelity's FBTC saw inflows of $19 million, followed by Grayscale's GBTC with $4 million. In addition, VanEck's HODL also saw inflows of $3 million. The only spot Bitcoin ETFs that saw significant outflows were ARK Invest and 21Shares' ARKB. More than $5 million flowed out of the ETF on Wednesday.
Meanwhile, Bitcoin (BTC), the world's largest cryptocurrency by market capitalization, failed to break above the $62,000 price level in the past 24 hours, according to CoinMarketCap. The cryptocurrency peaked at $61,896 but later fell to a cash trading price of $60,780.
Bitcoin has fallen 7.22% over the past seven days as reports that Mt. Gox will begin paying back creditors in July sparked fears of a sell-off. The German government has been moving large amounts of BTC assets between exchanges, further fueling concerns.
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