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Home»ADOPTION NEWS»US Spot Bitcoin ETFs Record Net Inflows of $31 Million After Consecutive Outflows
ADOPTION NEWS

US Spot Bitcoin ETFs Record Net Inflows of $31 Million After Consecutive Outflows

By Crypto FlexsJune 26, 20243 Mins Read
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US Spot Bitcoin ETFs Record Net Inflows of  Million After Consecutive Outflows
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Funding • June 26, 2024 12:39 AM EDT

Posted 1 minute ago In ~

U.S. spot Bitcoin exchange-traded funds returned to net inflows on Tuesday, bringing in total inflows of $31 million. This follows seven consecutive trading days of net outflows from 11 Bitcoin funds.

Fidelity’s FBTC led net inflows of $49 million on Tuesday, while Bitwise’s BITB reported inflows of $15 million. data From SoSoValue. VanEck’s HODL also recorded a net inflow of $4 million.

On the other hand, Grayscale’s GBTC recorded a net outflow of $30.3 million. Ark Invest and 21Shares’ ARKB reported net outflows of $6 million.

BlackRock’s IBIT, the largest spot Bitcoin fund by net asset value, saw no flow on Tuesday despite daily trading volume reaching $1.1 billion. Invesco and other funds from Galaxy Digital, Valkyrie and Franklin Templeton also recorded zero flows yesterday.

The 11 spot Bitcoin funds launched in January had net inflows totaling $14.42 billion as of Tuesday.

Meanwhile, U.S. issuers are working on launches. Spot Ether ETF, after receiving soft approval from the Securities and Exchange Commission last month. The companies filed their amended S-1 registration statements last week. Eric Balchunas, Bloomberg ETF senior analyst, said: said before He expects a spot Ethereum ETF to be launched by next week.

Bitwise Chief Information Officer (CIO) Matt Hougan said so The spot ether ETF could accumulate net inflows of $15 billion in the first 18 months following its US launch.


Disclaimer: The Block is an independent media outlet delivering news, research and data. As of November 2023, Foresight Ventures is a majority investor in The Block. Foresight Ventures invests in other companies in the cryptocurrency space. Cryptocurrency exchange Bitget is an anchor LP of Foresight Ventures. The Block continues to operate independently to provide objective, impactful and timely information about the cryptocurrency industry. Below are our current financial disclosures.

© 2023 The Block. All rights reserved. This article is provided for informational purposes only. It is not provided or intended to be used as legal, tax, investment, financial or other advice.

About the author

Danny Park is The Block’s East Asia reporter, writing about topics including Web3 development and cryptocurrency regulation in the region. He previously worked as a reporter for Forkast.News, where he actively covered the fall of Terra-Luna and FTX. Based in Seoul, Danny previously produced written and video content for media companies in Korea, Hong Kong and China. He holds a Bachelor’s degree in Journalism and Business Marketing from the University of Hong Kong.

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