The State of US Spot Bitcoin ETFs

The State of US Spot Bitcoin ETFs

The US spot Bitcoin ETFs are showing signs of recovery, with collective inflows reaching $21.52 million on June 26th. This positive momentum that started on Tuesday is a hopeful indication for the market.

BlackRock’s iShares Bitcoin Trust (IBIT) has not seen any new investments in the past four days. This is not the first time, as in April, the fund experienced five consecutive days of no inflows. Since June 14th, BlackRock’s activity has been on a downward trend, with only two minor inflows of less than $2 million each.

Zero Flows in ETFs

When there are zero flows in an ETF, it means that the supply and demand have balanced out, leading to no need for share adjustments. This lack of significant inflows doesn’t necessarily indicate a lack of trading activity but rather a stabilizing of the net flow.

Other Bitcoin ETFs’ Fate

Other spot Bitcoin ETFs like BITB by Bitwise, BTCO by Invesco and Galaxy Digital, and BRRR by Valkyrie saw zero flows on the same day. However, Fidelity’s FBTC experienced the largest net inflow of $19 million, marking a reversal of a 7-day outflow streak from June 13th to 24th.

Grayscale’s GBTC, which had not seen positive flows since June 5th, attracted just over $4 million on the latest day of trading. Since their introduction in January, these investment vehicles have collectively drawn $14.44 billion in net inflows.

Overall, while some US spot Bitcoin ETFs are experiencing a slow recovery and positive momentum, others are facing stagnant inflows or outflows. It is essential to monitor the market closely to understand the trends and make informed decisions when it comes to investing in Bitcoin ETFs. With the fluctuating nature of the cryptocurrency market, staying updated on the latest developments is crucial for investors looking to navigate this volatile landscape.

Crypto

Articles You May Like

7 Surprising Truths About Ethereum’s Rollercoaster Ride Below $2000
7 Potential Game Changers for the Crypto Landscape: The Next 90 Days
5 Major Reasons Why the FDIC’s Shift Toward Crypto is Revolutionary
Ethereum’s Turbulent Future: 5 Warning Signs of a Looming Crash

Leave a Reply

Your email address will not be published. Required fields are marked *