🔄 Bitcoin spot ETFs saw their first inflows after two consecutive weeks of losses, is the market turning around?
Data shows that these Bitcoin spot ETF markets have suffered losses for eight consecutive days, the longest period of losses since their launch in mid-January. However, on Monday, the situation seemed to have improved, and Bitcoin spot ETFs finally saw their first positive net inflow of $28.71 million in two weeks.
Among them, Fidelity's FBTC, BitWise's BITB, Ark's ARKB, and Invesco's BTCO received inflows of $28.6 million, $22 million, $680,000, and $310,000, respectively, yesterday. However, Grayscale's GBTC recorded an outflow of $22.8 million.
On the other hand, the price of Bitcoin is closely correlated with the trend of the spot ETF market. After hitting a low on Monday, the price of Bitcoin rebounded by nearly 2% and is currently stable around $57,200, which has brought some optimistic signals to investors to a certain extent.
🗣️ Conclusion:
Bitcoin trust products under fund companies such as Fidelity, BitWise, Ark and Invesco all recorded varying degrees of capital inflows on Monday, showing a gradual recovery in market confidence.
However, despite the outflow of funds from Grayscale's GBTC, positive signs in the overall market suggest that investor interest in cryptocurrency ETFs may be recovering.
In short, with the continuous adjustment of the market and the change in investor sentiment, the future performance of Bitcoin spot ETFs is worth further observation.