Bitcoin ETF

Bitcoin

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/bitcoin-etf-funds-experience-continued-outflows/" data-wpel-link="internal">Bitcoin ETF Funds Experience Continued Outflows</a><br></p>
<p class="p1" style="text-align: justify">US-based spot <strong>Bitcoin</strong> <a href="https://finance.coin-turk.com/" data-wpel-link="exclude">investment</a> funds saw a net outflow for the fifth consecutive day on June 20, with $139.88 million exiting the funds. Grayscale’s GBTC fund led with a daily net outflow of $53 million, closely followed by Fidelity’s FBTC fund with a $51 million outflow, according to SoSoValue data.</p> 
<h2 class="p1" style="text-align: justify" id="bitcoin-etf-funds-continue-to-see-outflows">Bitcoin ETF Funds Continue to See Outflows</h2> 
<p class="p1" style="text-align: justify">Meanwhile, Bitwise’s BITB fund reported a $32 million net outflow, and <strong>VanEck’s</strong> ETF fund recorded a $4 million net outflow. Invesco and Galaxy Digital’s funds saw a $2 million net outflow. The only net inflow came from BlackRock’s IBIT, the largest spot Bitcoin ETF fund by net asset value.</p> 
<p class="p1" style="text-align: justify">IBIT saw a $1 million net inflow on June 20 and recorded a daily trading volume of $565 million. Other funds from Ark Invest, Valkyrie, Franklin Templeton, WisdomTree, and Hashdex recorded zero flows.</p> 
<p class="p1" style="text-align: justify">The total trading volume of ETF funds fell from $1.7 billion on June 18 to $1.16 billion on June 20. Since their inception in January, the 11 spot Bitcoin funds have accumulated a total net inflow of $14.67 billion as of June 20. Markets were closed on June 19 due to a public holiday.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="aligncenter wp-image-363749 size-full" src="https://coin-turk.com/wp-content/uploads/2024/06/data-1.png" alt="" width="2442" height="763"></p> 
<h2 class="p1" style="text-align: justify" id="what-s-happening-in-the-etf-sector">What’s Happening in the ETF Sector?</h2> 
<p class="p1" style="text-align: justify">In related ETF <a href="https://newslinker.co" target="_blank" rel="noopener" data-wpel-link="exclude">news</a>, Australia’s largest exchange <strong>ASX</strong> listed its first spot Bitcoin ETF fund on June 20. The VanEck Bitcoin ETF operates as a feeder fund investing in the VanEck Bitcoin Trust (HODL) listed in the US, providing an opportunity to invest in Bitcoin. Despite the presence of spot crypto ETF funds since 2022, the addition of the Bitcoin fund to ASX appears to reflect efforts to catch up with the crypto ETF momentum in the US and Hong Kong.</p> 
<p class="p1" style="text-align: justify">Meanwhile, US ETF issuers are working to launch the country’s first spot <a href="https://en.coin-turk.com/what-does-ethereum-need-to-rise/" data-wpel-link="internal">Ethereum</a> fund group. According to two sources, issuers received comments from the Securities and Exchange Commission last week regarding S-1 forms for Ethereum ETF funds. Institutions are currently working to resubmit the revised forms by the night of June 21.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/bitcoin-etf-funds-experience-continued-outflows/" data-wpel-link="internal">Bitcoin ETF Funds Experience Continued Outflows</a></h5>

Bitcoin ETF Funds Experience Continued Outflows

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