The US listed spot Bitcoin ETFs (Exchange-traded Funds) have recorded their first net daily inflow of more than $200 million dollars since the beginning of May. This has ended weeks-long withdrawals.
On Thursday, the funds received net inflows of $221.7 Million. according SoSoValue’s data shows that a 10 day streak of net withdrawals, totaling more than $2.7billion dollars, has ended.
After a weak stretch for US Bitcoin spot ETFs, the funds have posted a record $4.5 billion in net outflows In June,
Daily flow in US-listed Bitcoin ETFs. Source: SoSoValue
Bitcoin was used to facilitate the inflows reclaimed Some investors including Bitwise Chief Investment Officer Matt Hougan have risen to $61,000 after falling briefly below $59,000. suggesting Market could be about to bottom out. On Friday, the crypto market was in a positive mood. measured At an “extreme fear” reading by the Fear & Greed Index from Alternative.me.
BlackRock’s outflows to ETFs continues as Fidelity ETFs lead the way.
Fidelity’s Wise Origin Bitcoin Fund led the Thursday rebound, with net inflows of $166 million, or 75%, of total day. according Farside Investors Data
ARK 21Shares Bitcoin ETF ranked second with inflows of $91.8 million. VanEck Bitcoin ETF HODL (HODL), and Valkyrie Bitcoin Fund BRRR (BRRR) rounded out the top three, each attracting $4.4 and $1.7 millions.
Farside Investors
BlackRock’s iShares Bitcoin Trust(IBIT), which is the biggest US Bitcoin ETF based upon assets, also continued to bleed. It posted $40.4 in net outflows for Thursday. Since June 17, the fund has suffered a loss of more than $2.2billion during an 11 session outflow.
Altcoin ETFs continue to see inflows, but sentiment remains fearful
Altcoins also saw net flows on Thursday, extending the recovery of ETF flows beyond Bitcoin.
US Ether ETFs attracted After $14.9m in inflows the day prior, there was a $29.1 million increase on Thursday. Net inflows returned for XRP-related ETFs as well. attracting After two sessions of consecutive outflows, $6.6 Million.
Related: Swan’s Cory Klippsten sees record Bitcoin holder supply revealing early bottom
According to CoinGecko, the global crypto market capital grew 2.4% in 24 hours to reach $2.22 trillion as Bitcoin recovered to $61,000. data.
Magazine: Bitcoin slides to $58K, XRP hits $1 but onchain data promising: Market Moves
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Source: cointelegraph.com
