Photo credit: André François McKenzie/Unsplash
Spot Bitcoin exchange-traded funds (ETFs) in the United States returned to net inflows on June 25, raking in $31 million, after a seven-day outflow streak across the 11 BTC funds.
In the past week, the US spot Bitcoin ETFs saw a total outflow of $1.1 billion.
The Fidelity Wise Origin Bitcoin Fund (FBTC) led the reversal on the day with $49 million, followed by Bitwise Bitcoin ETF (BITB), which drew $15 million, data from SoSoValue shows. The VanEck Bitcoin Trust also saw net inflows of $4 million.
Meanwhile, investors withdrew a net $30.3 million from the Grayscale Bitcoin Trust (GBTC) and $6 million from the ARK 21Shares Bitcoin ETF (ARKB), showing a different trend compared to the inflows seen in other US spot Bitcoin ETFs.
Several spot Bitcoin ETFs, including BlackRock’s iShares Bitcoin Trust (IBIT), the largest by assets under management, along with funds from Invesco Galaxy, Valkyrie, and Franklin Templeton, experienced no net inflows or outflows on the day, despite significant trading activity in IBIT.
The 11 spot Bitcoin funds launched in January have collectively amassed $14.42 billion in net inflows as of Tuesday.
Recent withdrawals from the US spot Bitcoin ETFs have reached their highest level since April, when investors pulled over $1.2 billion from these funds between April 24 and early May.
Meanwhile, anticipation surrounding US spot Ether ETFs continues to grow. In May, prospective fund issuers secured approval on their 19b-4 filings from the Securities and Exchange Commission (SEC). Firms who filed amended S-1 registration statements last week now await the greenlight on those documents to go live trading, which could come by the first week of July, projects Bloomberg analyst Eric Balchunas.
Elsewhere, VanEck’s Bitcoin ETF debuted on the Australian Securities Exchange (ASX) on June 20, making it the first spot BTC ETF of the country’s main stock market. The product will serve as a feeder fund for its US counterpart.
Read more: Standard Chartered setting up spot Bitcoin, Ether trading desk: Report