United

Bitcoin ETF

Grayscale Bitcoin Trust

After a week of net outflows, United States-based spot Bitcoin exchange-traded funds (ETFs) experienced a reversal on June 25, with net inflows reaching $31 million.
Data from SoSo Value reveals a shift from the past seven consecutive trading days, which saw $1.1 billion in total outflows from the spot Bitcoin ETFs.
On Tuesday, June 25, the Fidelity Wise Origin Bitcoin Fund (FBTC) led net inflows with $49 million, followed by the Bitwise Bitcoin ETF (BITB) with $15 million, and the VanEck Bitcoin Trust ETF (HODL) with net inflows of $4 million.
Conversely, the <a href="https://etfs.grayscale.com/gbtc" data-wpel-link="external" target="_blank" rel="noopener noreferrer nofollow">Grayscale Bitcoin Trust</a> (GBTC) experienced net outflows of $30.3 million, and the ARK 21Shares Bitcoin ETF reported $6 million in net outflows.
However, BlackRock’s iShares Bitcoin Trust ETF (IBIT) — the largest fund by assets under management — saw no inflows on June 25.
The same was true for ETFs from Invesco Galaxy, Valkyrie, and Franklin Templeton.
As of June 25, the 11 spot Bitcoin funds that debuted in January have seen net inflows totaling $14.42 billion.
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Recent outflows from U.S.-based spot Bitcoin ETFs have been the highest since April, when total net outflows exceeded $1.2 billion between April 24 and early May.
Despite these fluctuations, prospective U.S. issuers continue to finalize their registrations, following the approval of the ETFs by the U.S. Securities and Exchange Commission (SEC) in May.
Firms have been submitting amended Form S-1 registration statements as part of this process.
According to Bloomberg ETF analyst Eric Balchunas, spot Ether ETFs could potentially begin trading in the U.S. by July 2.
On June 25, investment manager VanEck filed a Form 8-A with the SEC for its spot Ether ETF, bringing it one step closer to launching.
The price of Bitcoin rose from $61,359 on June 25 to $61,732 at the time of publication, marking a 0.6% increase, according to TradingView data.
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Spot Bitcoin ETFs See $31M Inflows, Reversing Seven-Day Outflow Trend

Crypto Intelligence

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