BTC Spot ETFs See Massive Inflows, Reversing Recent Outflows

IconCryptoNewsTerminal Staff05 Jul, 2024

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BTC Spot ETFs See Massive Inflows, Reversing Recent Outflows

On July 5th, US Bitcoin (BTC) spot exchange-traded funds (ETFs) experienced a significant surge in inflows, totaling $143.1 million, according to data from financial information platform Farside Investors. This marks a reversal from the net outflows recorded in the previous two days, July 2nd and 3rd. Fidelity's FBTC ETF led the inflows with $117.4 million, followed by BITB and ARKB ETFs with $30.2 million and $11.3 million, respectively. In contrast, Grayscale's popular GBTC trust saw a net outflow of $28.6 million. This influx of funds into BTC spot ETFs suggests renewed investor interest in direct exposure to the underlying asset, which differs from futures-based ETFs. The inflows may be attributed to factors such as the recent market rally and expectations of regulatory clarity for spot ETFs. The surge in inflows highlights the growing demand for spot BTC ETFs, which offer investors a convenient and regulated way to gain exposure to the cryptocurrency. As the regulatory landscape evolves and more spot ETFs enter the market, it is likely that inflows will continue to increase, driving further adoption of BTC as an investment asset.

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