$BTC

A sudden hemorrhage in American Bitcoin funds despite the currency approaching its all-time high! Weekly inflows into US-based spot Bitcoin funds fell sharply, despite the cryptocurrency approaching all-time highs, as investor appetite weakened due to surprising economic and regulatory factors. According to data from SoSoValue, the 12 US-based exchange-traded funds (ETFs) recorded net inflows of just $769.6 million last week, a significant 65% drop from the previous week's inflows of over $2.22 billion. The week began with mixed performance, with $102.14 million inflows on Monday, before a surprise $342.25 million outflow on Tuesday. However, the market partially recovered on Wednesday and Thursday, recording inflows of $407.78 million and $601.94 million, respectively, the highest daily inflows since May. Markets were closed on Friday for the Independence Day holiday. BlackRock's IBIT fund topped the list with inflows of $336.8 million, followed by Fidelity's FBTC accounted for $248.4 million, followed by ARK 21Shares' ARKB with $160 million. Other funds, including BITB, BTCO, and EZBC, also contributed an additional $109.2 million inflows, offset by an $84.9 million outflow from Grayscale's legacy GBTC fund.