US-Traded Spot Bitcoin Exchange Traded Funds (ETFs) End 15-Day Positive Streak! Here Are the Latest Data
The 15-day uninterrupted series of net inflows totaling $4.7 billion in spot Bitcoin exchange-traded funds (ETFs) traded in the US ended on Tuesday, July 2, with a net outflow of $342.2 million. US Spot Bitcoin ETFs End 15-Day Net Inflow Streak: $342 million Outflow With the end of the series, BlackRock’s flagship product IBIT ended a 15-day trend of $3.8 billion in inflows, closing the day with zero net flows. The day’s highest outflow came from Fidelity’s FBTC fund of $172.7 million. Grayscale’s GBTC fund saw an outflow of $119.5 million, Ark Invest’s ARKB fund $27 million, and Bitwise’s BITB fund $23 million. “This shows that institutional accumulation is taking a break, but it does not mean that the trend is reversing,” said BRN Chief Analyst Valentin Fournier, who had said in an assessment he made at the beginning of the week that the slowdown in daily inflows indicates a short-term cooling in institutional interest. He noted that this situation weakens the chances of Bitcoin exceeding $110,000 without new catalysts. Launched in January 2024, US spot Bitcoin ETFs have generated a total net inflow of $48.9 billion to date. Since the beginning of the year, inflows have reached $13.5 billion, while total assets under management have reached $128 billion. Ethereum ETFs Continue to Inflow On the same day, spot Ethereum ETFs saw net inflows of $40.7 million. The largest contribution came from BlackRock’s ETHA fund: $54.8 million. This is the third consecutive day of net inflows for spot Ethereum ETFs, bringing the total to $150 million over the three days and $4.3 billion since launch. On Wednesday morning, the price of Bitcoin fell below $105,500 ahead of key economic data from the U.S., but has since recovered to around $107,800. “Markets are currently in a data-driven wait. Macro data like the July 3 jobless claims could be a game-changer,” said Vincent Liu, CIO of Kronos Research. BRN’s Fournier, on the other hand, emphasized that Bitcoin’s consolidation in the $105,000 to $110,000 range constitutes a structurally bullish setup, and new regulatory clarity or institutional involvement could re-accelerate the rally. *This is not investment advice.
US-Traded Spot Bitcoin Exchange Traded Funds (ETFs) End 15-Day Positive Streak! Here Are the Latest Data
The 15-day uninterrupted series of net inflows totaling $4.7 billion in spot Bitcoin exchange-traded funds (ETFs) traded in the US ended on Tuesday, July 2, with a net outflow of $342.2 million. US Spot Bitcoin ETFs End 15-Day Net Inflow Streak: $342 million Outflow With the end of the series, BlackRock’s flagship product IBIT ended a 15-day trend of $3.8 billion in inflows, closing the day with zero net flows. The day’s highest outflow came from Fidelity’s FBTC fund of $172.7 million. Grayscale’s GBTC fund saw an outflow of $119.5 million, Ark Invest’s ARKB fund $27 million, and Bitwise’s BITB fund $23 million. “This shows that institutional accumulation is taking a break, but it does not mean that the trend is reversing,” said BRN Chief Analyst Valentin Fournier, who had said in an assessment he made at the beginning of the week that the slowdown in daily inflows indicates a short-term cooling in institutional interest. He noted that this situation weakens the chances of Bitcoin exceeding $110,000 without new catalysts. Launched in January 2024, US spot Bitcoin ETFs have generated a total net inflow of $48.9 billion to date. Since the beginning of the year, inflows have reached $13.5 billion, while total assets under management have reached $128 billion. Ethereum ETFs Continue to Inflow On the same day, spot Ethereum ETFs saw net inflows of $40.7 million. The largest contribution came from BlackRock’s ETHA fund: $54.8 million. This is the third consecutive day of net inflows for spot Ethereum ETFs, bringing the total to $150 million over the three days and $4.3 billion since launch. On Wednesday morning, the price of Bitcoin fell below $105,500 ahead of key economic data from the U.S., but has since recovered to around $107,800. “Markets are currently in a data-driven wait. Macro data like the July 3 jobless claims could be a game-changer,” said Vincent Liu, CIO of Kronos Research. BRN’s Fournier, on the other hand, emphasized that Bitcoin’s consolidation in the $105,000 to $110,000 range constitutes a structurally bullish setup, and new regulatory clarity or institutional involvement could re-accelerate the rally. *This is not investment advice.
