- Just one fund—GBTC, run by Grayscale—reported net outflows yesterday.
- Since January, a net inflow of $15.42 billion has been recorded by the ETFs.
On Wednesday, the U.S. spot bitcoin exchange-traded funds (ETFs) had a net inflow of $147.37 million, continuing a streak of four days of positive fund flows. SoSoValue statistics shows that Fidelity’s FBTC received $57.79 million on Wednesday. Up next was Franklin Templeton’s ETF, which raised $31.66 million, its highest funding inflow since early May.
Yesterday, the biggest spot bitcoin fund, IBIT, which is owned by BlackRock, saw net inflows of $22.24 million. While Valkyrie’s ETF reported net inflows of $20.68 million. Approximately $9.5 million flowed into Invesco and Galaxy Digital’s BTCO. While lesser sums were taken in by Bitwise, Ark Invest, 21Shares, and VanEck.
Just one fund—GBTC, run by Grayscale—reported net outflows yesterday, totaling $8.15 million. Wednesday saw 11 spot bitcoin funds trade a combined $1.25B in value.
Minor Rebound
Despite this, daily transaction activity in spot bitcoin ETFs is still much lower than it was in March and April of this year, when it reached over $12 billion. Since January, a net inflow of $15.42 billion has been recorded by the ETFs.
The value of bitcoin surged 1.17% to $58,728 in the last 24 hours, as per data from CMC. Although it has recovered somewhat from last week’s decline. It is still far below the early June price range of over $70,000.
Concerns over the distribution of Mt. Gox payouts and selling pressure caused by actions taken by the German government regarding bitcoin continue to plague the market and crypto investors. Investors are keeping a close eye on upcoming core CPI statistics to gauge Fed’s interest rate policy stance.
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