Bitcoin ETF Market Sees First Day of Inflows Since March, Data Shows
Data from BitMEX has revealed that the Bitcoin (BTC) ETF market experienced a positive shift with its first day of net inflows since March 15. On this day, the market collected $15.7 million, or 221.2 Bitcoin, marking a pause in five consecutive days of net outflows. Despite this modest inflow, the market was overshadowed by substantial outflows from GBTC, totaling $350.1 million or 4,933.7 BTC. GBTC has now seen cumulative outflows reach $14,150.6 billion, equivalent to 275,059 BTC.
Other data from BitMEX showed that Fidelity had a strong day with net inflows of $261.8 million, or 3,689.3 BTC, bringing its total inflows to $7,213.4 billion, equivalent to 136,886 BTC. Interestingly, none of the remaining eight ETFs recorded any outflows. ARKB and BTCW remained stagnant with no inflows or outflows reported. Together, the Bitcoin ETFs have accumulated $11,284.8 billion, equivalent to 200,673 BTC.
The data indicates a shift in the market as Bitcoin ETFs saw a day of inflows, while GBTC continued to experience significant outflows. This development highlights the ongoing volatility and trends within the ETF market.
Image Source: BitMEX
The original article was published on CryptoSlate.
