US Spot Bitcoin ETFs See Reversal with $31 Million in Net Inflows
After a week of net outflows, U.S.-based spot Bitcoin exchange-traded funds (ETFs) saw a turnaround on June 25, with net inflows totaling $31 million.
Reversal of Outflow Trend
Data from SoSo Value shows a significant shift after seven consecutive days of outflows, which had amounted to $1.1 billion in total. On June 25, the Fidelity Wise Origin Bitcoin Fund (FBTC) led the inflows with $49 million, followed by the Bitwise Bitcoin ETF (BITB) with $15 million, and the VanEck Bitcoin Trust ETF (HODL) with $4 million.
Conversely, the Grayscale Bitcoin Trust (GBTC) experienced net outflows of $30.3 million, and the ARK 21Shares Bitcoin ETF reported $6 million in outflows.
Inflows and Outflows Overview
The seven-day outflow trend was reversed, but 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 collectively seen net inflows of $14.42 billion.
Recent Trends and Future Outlook
Recent outflows from U.S.-based spot Bitcoin ETFs are the highest since April when they exceeded $1.2 billion from April 24 to early May.
Spot Ether ETFs on the Horizon
Following a soft approval by the U.S. Securities and Exchange Commission (SEC) in May, prospective issuers of spot Ether ETFs are finalizing their registrations. Spot Ether ETFs could begin trading in the U.S. by July 2, according to Bloomberg ETF analyst Eric Balchunas.
On June 25, investment manager VanEck filed a Form 8-A with the SEC for its spot Ether ETF, moving closer to launch.
Bitcoin Price Movement
On June 25, the price of Bitcoin rose from $61,359 to $61,732, marking a 0.6% increase, according to TradingView data.
