Bitcoin ETF

Bitcoin

Grayscale Bitcoin Trust

Spot

After a week of net outflows, United States-based spot Bitcoin exchange-traded funds (ETFs) saw a reversal on June 25, with net inflows reaching $31 million.
Data from SoSo Value <a href="https://sosovalue.xyz/assets/etf/us-btc-spot" target="_blank" rel="noopener nofollow">indicates</a> a reversal from the past seven consecutive trading days, which saw $1.1 billion in total outflows from the sport Bitcoin (<a href="https://cointelegraph.com/bitcoin-price">BTC</a>) ETFs.
<h3 data-ct-non-breakable="true" id="outflow-trend-reversal">Outflow trend reversal</h3>
The data shows the Fidelity Wise Origin Bitcoin Fund (FBTC) led net inflows on Tuesday, June 25, with $49 million, followed by the Bitwise Bitcoin ETF (BITB) with $15 million in inflows, and the VanEck Bitcoin Trust ETF (HODL) with net inflows of $4 million.
On the other hand, the Grayscale Bitcoin Trust (GBTC) saw net outflows of $30.3 million, while the ARK 21Shares Bitcoin ETF reported $6 million in net outflows.
<figure data-ct-non-breakable="true">
 <img src="https://s3.cointelegraph.com/uploads/2024-06/18759b35-bded-48d9-9890-30e1d8477fdf.png" alt="" title="">
 <figcaption style="text-align: center;">
 Spot Bitcoin ETF’s seven-day outflow trend reversed.&nbsp;Source: Farside Investors
 </figcaption>
</figure>
However, BlackRock’s iShares Bitcoin Trust ETF (IBIT) — the biggest fund by&nbsp;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 of $14.42 billion.
Related:&nbsp;<a href="https://cointelegraph.com/search?query=Spot%2520Bitcoin%2520ETFs#:~:text=Bitcoin%20sentiment%20index%20drops%20to%20%E2%80%98fear%E2%80%99%20%E2%80%94%20its%20lowest%20score%20in%2018%20months">Bitcoin sentiment index drops to ‘fear’ — its lowest score in 18 months</a>
Recent outflows from the U.S.-based spot Bitcoin ETFs are the highest since April, when they posted total net outflows exceeding $1.2 billion between April 24 and the beginning of May.
<h3 data-ct-non-breakable="true" id="spot-ether-etfs-poised-for-launch">Spot Ether ETFs poised for launch</h3>
Following <a href="https://cointelegraph.com/news/sec-spot-ether-etf-approved">a soft approval</a>&nbsp;of spot Ether (<a href="https://cointelegraph.com/ethereum-price">ETH</a>)&nbsp;ETFs by the U.S. Securities and Exchange Commission (SEC) in May, prospective U.S. issuers continue to finalize their registrations prior to launch.
As part of the process, firms have been&nbsp;<a href="https://cointelegraph.com/news/bitwise-amends-spot-ethereum-etf-pantera-capital-share-buy">submitting amended Form S-1 registration</a> statements recently. Spot Ether ETFs <a href="https://cointelegraph.com/news/spot-ethereum-etf-ether-eric-balchunas-bloomberg">could potentially begin trading</a> in the U.S. by July 2, according to Bloomberg ETF analyst Eric Balchunas.
On June 25, investment manager VanEck <a href="https://cointelegraph.com/news/vaneck-form-8a-spot-ether-etf">filed a Form 8-A</a>&nbsp;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, <a href="https://www.tradingview.com/symbols/BTCUSD/" target="_blank" rel="noopener nofollow">according</a> to TradingView data.
Magazine: X Hall of Flame: <a href="https://cointelegraph.com/magazine/spot-ethereum-etf-ether-price-bitcoin-patrick-scott-dynamo-defi-hall-of-flame/">Ethereum’s recent pullback could be a gift — Dynamo DeFi</a>

Spot Bitcoin ETFs reverse 7-day outflow streak

Съдържание

Cointelegraph

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