Bitcoin ETFs Surge with $222M Inflows, Ending Ten-Day Slide
Thursday's inflows ended a run that drained $2.7 billion, but analysts warn one green day isn't necessarily a trend reversal.
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Thursday's inflows ended a run that drained $2.7 billion, but analysts warn one green day isn't necessarily a trend reversal.
BlackRock's IBIT was the only fund to see net outflows on Thursday, shedding $40.4 million and continuing its negative streak.
US spot Bitcoin ETFs post $221.7 million inflows, the strongest daily intake since early May, as Bitcoin recovers above $61,000.
US spot Bitcoin ETFs logged a record $4.5 billion in June outflows, pushing year-to-date totals to $5.5 billion, signaling an unprecedented pace of withdrawals.
Analysts cited capital rotation amid macroeconomic uncertainty and SpaceX's historic IPO as the main drivers of the significant outflows.
Investors have pulled out $4 billion from the U.S.-listed spot bitcoin ETFs in June, the highest outflow on record.
Friday's $444.51 million net outflow capped a seventh straight negative week, the longest weekly run on record for the category.