- Bitwise’s BITB received $8 million in inflows yesterday.
- Only $11.5 million worth of Grayscale’s GBTC was withdrawn.
Net inflows of $11.80 million were recorded by the eleven spot bitcoin ETFs in the US on Thursday, extending the positive run to three consecutive days. The pace has decreased since Tuesday’s net inflows of $31 million, but the inflows have persisted.
SosoValue data shows that Bitwise’s BITB received $8 million in inflows yesterday. With Fidelity’s FBTC following closely after with net inflows of about $7 million. Net inflows of $3.6 million were recorded by Franklin Templeton’s spot bitcoin ETF, marking its highest level since mid-May.
Zero Inflows for BlackRock’s IBIT
On Thursday, $3 million poured into BTCO, which is owned by Invesco and Galaxy Digital. While $1.84 million poured into ARKB, which is owned by Ark Invest and 21Shares.
Only $11.5 million worth of Grayscale’s GBTC was withdrawn. Despite $520 million worth of trading on Thursday, BlackRock’s IBIT—the biggest spot bitcoin ETF by net asset value—reported zero flows for the fifth day in a row.
Zero day flows were also reported by the remaining funds from VanEck, Valkyrie, WisdomTree, and Hashdex. On Thursday, the eleven bitcoin funds’ daily trading volume was close to $920 million, a substantial decrease from their peak of almost $10 billion in March. Since their launch in January, the ETFs have had a net inflow of $14.45 billion.
Although Bitcoin’s market price has seen some improvement, it is still unable to break over the $62,000 barrier; after a 0.84% rise over the last 24 hours, it is now hanging around $61,606 as per data from CMC.
Highlighted Crypto News Today:
