Bitcoin ETFs Report Modest Inflows Amid GBTC Outflows: Trend Reversal?

Bitcoin ETFs Report Modest Inflows Amid GBTC Outflows: Trend Reversal?

By: Eliza Bennet

Introduction

Bitcoin Exchange Traded Funds (ETFs) recently recorded modest inflows after consistent outflows since mid-March, indicating a potential pause to the outflow trend. Data indicates that Bitcoin ETFs experienced net inflows worth $15.7 million, equivalent to 221.2 Bitcoin (BTC), marking it as the first such event since March 15th.

An Overview of the Findings

This event brought a pause to five continuous days of net outflows and represented the second-smallest day of inflows recorded. Despite this shift, the overall narrative remains dominated by the significant outflows experienced by Grayscale's GBTC, equating to the tune of $350.1 million or 4,933.7 BTC. Consequently, GBTC's cumulative outflows reach a whopping $14,150.6 billion, equivalent to 275,059 BTC.

Other Key Performers

In contrast, Fidelity experienced strong net inflows of $261.8 million, corresponding to 3,689.3 BTC, pushing its total inflow to $7,213.4 billion or 136,886 BTC. On the other hand, both ARKB and BTCW neither saw inflows nor outflows. The cumulative Bitcoin ETFs stand at $11,284.8 billion, equivalent to 200,673 BTC.

ETF Data

Get In Touch

[email protected]

Follow Us

© BlockBriefly. All Rights Reserved.