Farside Investors reports a $73 million inflow for the entire U.S. Spot Bitcoin ETF issuers.
An important $82.4 million was poured into BlackRock’s IBIT ETF.
Even though U.S. Spot Bitcoin ETFs have had upward momentum for four days in a row, the price of Bitcoin is struggling around the $61,000 mark. It is worth mentioning that several market experts have pointed to the recent lackluster trading activity of the U.S. Spot Bitcoin ETF as a significant cause of the BTC price decline.
Nevertheless, it seems that other variables are at work, since the U.S. Bitcoin ETF has remained in the green this week. There is a complicated interaction of market factors, as the ETFs have had upward momentum for four days in a row despite this price fall. Notably, BlackRock’s IBIT has been a major driver of the current migration.
Redistribution of Capital
Farside Investors reports a $73 million inflow for the entire U.S. Spot Bitcoin ETF issuers. An important $82.4 million was poured into BlackRock’s IBIT ETF, marking the first sizable inflow since June 20. When contrasted with the withdrawals seen by other prominent Bitcoin ETFs, this flurry stands out.
GBTC by GrayScale and FBTC by Fidelity, had outflows of $27.2 million and $25 million, respectively. But the inflows from BlackRock and the extra contributions from Ark 21Shares’ ARKB, which saw an inflow of $42.8 million, more than made up for the withdrawals.
At the same time, investors seem to be shifting their focus to ETFs that are displaying durability and growth potential, as shown by this redistribution of capital. Even if the market as a whole has had a mixed performance, the recent inflows show that investors are becoming more confident in Bitcoin ETFs.
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