Farside Investors has reported a $73 million inflow across all U.S. Spot Bitcoin ETF issuers. Notably, BlackRock’s IBIT ETF received a significant $82.4 million influx.
Despite the U.S. Spot Bitcoin ETFs experiencing positive momentum for four consecutive days, Bitcoin’s price is struggling around the $61,000 level. Experts attribute the recent sluggish trading activity of U.S. Spot Bitcoin ETFs as a major factor in Bitcoin’s price dip.
However, other market dynamics appear to be influencing the situation, as the U.S. Bitcoin ETF has stayed in the green this week. The ETFs have maintained an upward trajectory for four days, despite the price decline. A key contributor to this trend is the substantial inflow into BlackRock’s IBIT.
Redistribution of Capital
Farside Investors noted a $73 million inflow for all U.S. Spot Bitcoin ETF issuers. BlackRock’s IBIT ETF, in particular, saw a notable $82.4 million investment, marking the first significant inflow since June 20. This contrasts sharply with the outflows experienced by other major Bitcoin ETFs. GrayScale’s GBTC and Fidelity’s FBTC saw outflows of $27.2 million and $25 million, respectively. However, the inflows into BlackRock’s IBIT and an additional $42.8 million into Ark 21Shares’ ARKB ETF more than compensated for these withdrawals.
This shift indicates that investors are gravitating towards ETFs demonstrating resilience and growth potential. Despite the mixed overall market performance, the recent inflows suggest increasing investor confidence in Bitcoin ETFs.
Highlighted Crypto News Today:
Politifi Tokens Based on Trump and Biden Experience Post-Debate Decline
share
