The U.S. spot Bitcoin exchange-traded funds (ETFs) recorded a net inflow of $239.9 million on Thursday, ending a six-day streak of outflows during which the market lost nearly $1.4 billion.
According to Farside Investors, this reversal occurred after a tumultuous week of profit-taking driven by macroeconomic uncertainty, which led to redemptions from the largest institutional Bitcoin (BTC) investment vehicles.
The rebound was led by asset management firm BlackRock, which added $112.4 million to the iShares Bitcoin Trust (IBIT), followed by Fidelity's Wise Origin Bitcoin Fund (FBTC), which increased by $61.6 million. The ARK 21Shares Bitcoin ETF (ARKB) reported an increase of $60.4 million, while Grayscale's GBTC has seen continued outflows since mid-October, with no changes.
Overall, the six days of selling marked one of the steepest corrections since the ETF began trading in January.
Similar to the spot Bitcoin ETF, exchange-traded products tracking Ethereum (ETH) also experienced a smaller scale of outflows over six days.
According to SoSoValue, the spot ETH ETF saw six days of selling, resulting in approximately $837 million withdrawn from ETH-based crypto investment products. This situation finally reversed on Thursday, with the spot Ethereum ETF slightly increasing by $12.51 million.
Since its launch on October 28, the spot Solana (SOL) ETF has performed well. Data from SoSoValue shows that SOL-based products have attracted $322 million in inflows since their launch, with no net outflow days recorded.
On Thursday, crypto market maker Wintermute listed ETFs as one of the three key pillars of liquidity in the crypto industry.
In a blog post, Wintermute stated that liquidity remains a key driving force behind every crypto cycle, believing its impact surpasses technological developments.
Wintermute identified stablecoins, ETFs, and digital asset treasuries as the three pillars of crypto liquidity, noting that liquidity inflows in these three areas have reached a plateau.
A recent survey by brokerage giant Schwab Asset Management revealed that 52% of respondents plan to invest in ETFs, while 45% expressed interest in crypto-related ETFs.
Related: JPMorgan: Bitcoin (BTC) is undervalued relative to gold, with a fair value of $170,000
Original article: “Bitcoin (BTC) ETF Ends Six-Day Outflow Streak with $240M Inflows”
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