Bitcoin ETF Net Inflows Show Modest Gains on June 26, 2024
On June 26, 2024, Bitcoin ETFs saw a net inflow of $21 million, as reported by SpotOnChain. This positive inflow, though small, indicates a continued interest in Bitcoin investments.
Grayscale Sees $4.3M Inflow After 13 Days of Outflows
Grayscale Bitcoin Trust (GBTC) recorded a tiny inflow of 4.3 million after 13 days of outflows. Since then, it has been quite a change of pace for Grayscale, indicating revived interest in their *BTC* ETF among investors.
Meanwhile, there was no change in single day flow of BlackRock’s Bitcoin ETF (IBIT) as it remained stagnant for the 8th consecutive day. This stagnation is even more surprising since other Bitcoin ETFs appear to have made rather modest improvement.
Grayscale Bitcoin Inflows Return Amid BlackRock Stagnation
Taking all this into account, one may say that the $21 million net inflow is not that significant. However, it is a positive signal for Bitcoin ETFs. The flow of new assets in Grayscale and stagnation in BlackRock demonstrates that the investors and their activities can be quite different even in the context of Bitcoin ETFs. These trends are important to track by market participants because the current situation with the Bitcoin ETF and its possible future development can be determined using these indicators.
Lastly, the positive net inflow offers some consolation to the investors who are witnessing high volatility with different kinds of Bitcoin ETFs. The crypto market is still volatile, and such inflow patterns may signify different trends within the investors and the market.
