US Spot Bitcoin ETFs Report Positive Net Flows for Three Consecutive Days

This development marks a potential shift in investor sentiment towards these funds.

According to data from SoSoValue, Fidelity Investments’ $FBTC led the pack, attracting over $19 million into its portfolio. VanEck’s $HODL recorded $3.4 million in inflows, as reported by Farside Investors. Notably, Grayscale’s $GBTC registered net inflows of $4 million, its first positive flow since June 5.

Ark Invest and 21Shares’ $ARKB fund was the only ETF to register outflows, with $4.9 million leaving the fund. Other funds saw no net change.

This recent trend contrasts with the market movement at the end of the first quarter and the beginning of the second quarter of 2024. During that period, the ETF market experienced three consecutive days of outflows twice within a few weeks. At the time, Grayscale’s $GBTC led the outflows, with $79.4 million of outflows leaving its funds. However, BlackRock’s $IBIT bucked the trend with steady inflows for three consecutive days. 

This latest development in the US Spot Bitcoin ETF market could signal a turning point for Bitcoin (BTC), but it comes amid ongoing global debates about the risks and benefits of cryptocurrency investments.

A think tank in South Korea, the Institute of Finance, recently warned against adopting spot crypto ETFs, citing risks and potential losses. Bo-mi Lee, a leading researcher at the institute, argued for stringent regulatory measures and investor protections, given the increasing complexity of crypto assets.

Bitcoin has been trading at around $60,000 in the past 24 hours and is currently at $61,764.12, reflecting a 0.05% decrease during the same period.

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