Spot Bitcoin ETFs change the 7-day outflow
After a week of net inflows, U.S.-based spot bitcoin exchange-traded funds (ETFs) were reversed on June 25, with net inflows reaching $31 million.
Data from Soso Value shows a reversal over the past seven consecutive trading days, which saw outflows totaling $1.1 billion from sports Bitcoin (BTC) ETFs.
Reversal of the upward trend
The data shows that on Tuesday, June 25, the Fidelity Wise Bitcoin Fund (FBTC) led the net income of $49 million, followed by the Bitwise Bitcoin ETF (BITB) with an income of $15 million, and the VanEck Bitcoin Trust ETF (HODL) with a net income of $4 million.
On the other hand, Greyscale Bitcoin Trust (GBTC) had a net outflow of $30.3 million, while the ARK 21Shares Bitcoin ETF reported a net inflow of $6 million.
However, BlackRock's iShares Bitcoin Trust ETF (IBIT) — the largest fund by assets under management — saw no inflows on June 25. The same was true for EFAs from Invesco Galaxy, Valkyrie and Franklin Templeton.
As of June 25, the 11th spot of Bitcoin funds launched in January saw a net worth of $14.42 billion.
Related: Bitcoin Sentiment Index Drops to ‘Fear' – Lowest Score in 18 Months
Bitcoin ETFs from the US-based space posted a total net inflow of more than $1.2 billion between April 24 and early May, the highest since April.
SpotEther ETFs are getting ready to launch.
Following the soft approval of Spot Ether (ETH) ETFs by the US Securities and Exchange Commission (SEC) in May, US futures issuers continue to complete their registrations ahead of launch.
As part of the process, firms are filing recently revised Form S-1 registration statements. Spot ETFs are likely to start trading in the US on July 2, according to Eric Balchunas, an ETF analyst at Bloomberg.
On June 25, investment manager VanEyck filed an SEC Form 8-A for its spot Ether ETF, one step closer to launch.
According to TradingView data, the price of bitcoin rose 0.6% from $61,359 to $61,732 at the time of publication on June 25.
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