US spot Bitcoin exchange-traded funds (ETFs) recorded a total net inflow of $31.01 million, marking the first positive inflow after a week of consecutive outflows.
Bitcoin Spot ETFs See $31 Million in Net Inflows After Seven Days of Outflows
Grayscale's GBTC experienced an outflow of $30.29 million in a single day. In comparison, Fidelity's FBTC ETF saw a significant single-day inflow of $48.79 million, and Bitwise's BITB ETF reported an inflow of $15.20 million, according to SosoValue data.
Recent inflows indicate a potential shift in investor sentiment towards Bitcoin ETFs after a difficult period of sustained outflows. The performance of these ETFs reflects the ongoing volatility and investor interest in the cryptocurrency market.
Grayscale's GBTC remains a major player in the market despite its exit, while positive inflows from Fidelity and Bitwise show increased confidence in these funds among investors.
This resurgence in inflows could signal renewed interest and optimism in the market, potentially leading to greater stability and growth for bitcoin ETFs in the near future.
*This is not investment advice.