After two days of net outflows, U.S. spot Bitcoin exchange-traded funds (ETFs) rebounded on Wednesday, generating net inflows of $100.9 million.
US Spot Bitcoin ETFs See $101 Million in Net Inflows After Brief Outflows
This resurgence comes after ETFs enjoyed a record 19-day streak of inflows before suffering pullbacks earlier this week.
Fidelity's FBTC led the way with an impressive net inflow of $51 million. BlackRock's IBIT followed with $16 million, while Bitwise's BITB pulled in $15 million.
According to SosoValue data, VanEck's HODL and Ark Invest's ARKB saw net inflows of $12 million and $9 million, respectively.
However, Grayscale's GBTC reported zero net flows, continuing its weighted outflow trend since the January conversion. WisdomTree and Invesco's other funds also did not report net inflows. Since inception, 11 spot Bitcoin ETFs have accumulated a total of $15.52 billion in net inflows.
According to CNBC, the return to net inflows coincided with major economic reports from the United States. The Labor Department's Consumer Price Index (CPI) for May showed no increase, indicating a potential slowdown in inflation.
Despite this, the Federal Open Market Committee (FOMC) decided to maintain the current interest rate of 5.25% to 5.50% after its meeting on Wednesday.
According to CNN, the Federal Reserve has forecast only one rate cut for 2024 because it is not convinced that the deflationary trend is fully established.
*This is not investment advice.
