Key Takeaways:
- Bitcoin spot ETFs recorded a total net inflow of $31.0131 million on June 25, the first net inflow after 7 consecutive days of net outflows.
- Grayscale’s GBTC ETF saw a single-day outflow of $30.2866 million, while Fidelity’s FBTC and Bitwise’s BITB ETFs had single-day inflows of $48.7897 million and $15.1967 million, respectively.
- The resurgence in inflows comes after a period of net outflows, signaling renewed investor interest in gaining exposure to Bitcoin through regulated investment products.
Related: Bitcoin Price Prediction: This BTC Buy Signal Hints Imminent Reversal on the Horizon
Bitcoin spot exchange-traded funds (ETFs) saw a resurgence in inflows on June 25, recording a total net inflow of $31.0131 million. This marks the first net inflow after seven consecutive days of net outflows, suggesting renewed investor interest in gaining exposure to the leading cryptocurrency through regulated investment vehicles.
Related: Bitcoin ETFs Hemorrhage $544 Million as Fed Hawkishness Bites Crypto
Spot Bitcoin ETFs Make $31 Million Comeback
The spot Bitcoin ETF inflows were driven by a mix of activity across different ETFs. Grayscale’s GBTC ETF saw a single-day outflow of $30.2866 million, while Fidelity’s FBTC and Bitwise’s BITB ETFs had single-day inflows of $48.7897 million and $15.1967 million, respectively.
Grayscale added that, “Bitcoin ETF inflows represent a significant vote of confidence in Bitcoin’s long-term potential. This broader institutional adoption can lead to a sustained increase in demand and price appreciation.”
The latest inflows come after a period of net outflows from Bitcoin spot ETFs, which had seen a cumulative outflow of over $900 million in the week leading up to June 22. The reversal in the trend could be attributed to a variety of factors, including changes in market sentiment, regulatory developments, and the overall performance of the cryptocurrency market.
Changpeng Zhao (CZ), the co-founder of Binance added that the “domino effect of Bitcoin ETFs could see a wave of new crypto-focused products emerge, further accelerating mainstream adoption and potentially leading to a bull market across the crypto ecosystem.”
