CDS Crypto News Crypto News Today- US Spot Bitcoin ETFs Witness Net Inflows After Four Weeks of Outflows
Crypto News

Crypto News Today- US Spot Bitcoin ETFs Witness Net Inflows After Four Weeks of Outflows

65
Crypto News Today- US Spot Bitcoin ETFs Witness Net Inflows After Four Weeks of Outflows

Net Inflows Resume for US Spot Bitcoin ETFs After Four Consecutive Weeks of Outflows

Crypto News– After enduring four consecutive weeks of outflows totaling more than $1 billion, spot bitcoin exchange-traded funds (ETFs) in the United States experienced a significant turnaround, recording net inflows of $116.8 million last week.

Grayscale’s converted Bitcoin Trust (GBTC) was the sole spot bitcoin ETF to register net outflows, with $171.1 million leaving the fund despite breaking its 78-day outflow streak earlier in the month.

Dominance of Fidelity’s FBTC

Fidelity’s FBTC dominated last week’s net inflows, adding $111.3 million, while Ark Invest’s ARKB followed closely behind with $82.8 million in net inflows.

Crypto News Today- US Spot Bitcoin ETFs Witness Net Inflows After Four Weeks of Outflows

Subdued Performance of BlackRock’s IBIT

BlackRock’s previously dominant spot bitcoin ETF, IBIT, saw its first net daily outflows on May 1 but still managed to secure $48.1 million in net inflows last week, placing it third among the ETFs.

Total net inflows for the ETFs combined currently stand at $11.7 billion, signaling renewed investor interest despite a significant slowdown in flows since peaking in March.

Impact of Bitcoin Price Volatility

Flows for spot bitcoin ETFs slowed notably after peaking in March, coinciding with a 23% drop in the price of Bitcoin from its latest all-time high to a low in May. However, the cryptocurrency has since recovered and is currently trading around $62,700.

FAQs

What does it mean when spot bitcoin ETFs witness net inflows?

Net inflows occur when more money flows into spot bitcoin ETFs than flows out. This indicates increased investor interest and confidence in the asset.

What caused the recent net inflows into US spot bitcoin ETFs?

After four consecutive weeks of outflows, spot bitcoin ETFs in the US experienced net inflows of $116.8 million. Factors contributing to this turnaround could include changing market sentiment, institutional investment decisions, and overall market conditions.

Which ETFs saw the highest net inflows?

Fidelity’s FBTC and Ark Invest’s ARKB were among the ETFs that witnessed the highest net inflows, adding $111.3 million and $82.8 million, respectively.

For the latest in crypto updates, keep tabs on Crypto Data Space.

US Spot Bitcoin ETFs Witness Net Inflows After Four Weeks of Outflows

Related Articles

Breaking Crypto News – What are the Advantages of Using EVM RPC for ICP Smart Contracts?

Breaking Crypto News - What are the Advantages of Using EVM RPC...

Crypto News Today- Approach ETH pullbacks with careful consideration

Bitcoin's price fell 15% post spot Bitcoin ETFs, but traders doubt Ether...

Crypto News Today- Nvidia X Bitcoin: Nvidia unlikely to replicate its success against Bitcoin in the next decade

In the last decade, Nvidia, a technology company, surpassed Bitcoin in performance....

Pepe Crypto News – Bitcoin Roller Coaster: From Below $66,500 to Over $69,000

Pepe Crypto News - Bitcoin Roller Coaster: From Below $66,500 to Over...