BTC Spot ETFs See $20.4495M Worth of More Outflows on July 3
The spot ETFs of Bitcoin have recently seen significant outflows. As per SoSoValue, an AI-powered investment research forum, the net outflow of the BTC ETFs reached $20.445 million on the 3rd of July. The platform took to its official social media account to reveal the respective development. It considers this scenario to be suggesting a slight decline in the interest of the investors.
Bitcoin Spot ETFs Incur $20.4495 Million in Net Outflow
In its latest X post, SoSoValue pointed out that the respective increase in the outflows is alarming. Nonetheless, the company added that an in-depth analysis of the statistics discloses more information. In this respect, the individual exchange-traded funds reportedly provide an additionally nuanced picture. The GBTC ETF of Grayscale topped the list of Bitcoin ETFs in terms of outflows.
According to SoSoValue, the exchange-traded fund went through the outflows of up to $26.9947 million worth. The respective figure accounts for GBTC’s single-day outflow. On the other hand, Fidelity’s FBTC experienced inflows. SoSoValue asserted that the exchange-traded fund witnessed a fund inflow of approximately $6.5451 million worth.
The Net Asset Worth of BTC ETFs Expresses a Positive Sentiment
The platform moved on to reflect on the overall scenario of the Bitcoin ETF market. It claimed that irrespective of the respective movements, the cumulative net asset worth of BTC spot ETFs stays optimistic. This value is currently standing at a substantial level of up to $51.872 billion. This implies that the investors still intend to have exposure to BTC via ETFs.
