Bitcoin ETFs break trend recording modest inflows as GBTC continues outflow

Quick Take

According to data from BitMEX, the Bitcoin (BTC) ETF market experienced its first day of net inflows since March 15, collecting a modest $15.7 million, or 221.2 Bitcoin. This event paused five consecutive days of net outflows and represented the second-smallest day of inflows recorded. Despite this positive shift, the larger narrative remained overshadowed by the substantial outflows from GBTC, which amounted to $350.1 million or 4,933.7 BTC. Consequently, GBTC’s cumulative outflows have reached $14,150.6 billion, equivalent to 275,059 BTC.

Data from BitMEX shows that Fidelity experienced an intense day with net inflows of $261.8 million, equivalent to 3,689.3 BTC, pushing its total inflows to $7,213.4 billion, equivalent to 136,886 BTC. It’s noteworthy that none of the remaining eight ETFs recorded any outflows. Both ARKB and BTCW remained stagnant, registering neither inflows nor outflows. As a cumulative figure, the Bitcoin ETFs have amassed $11,284.8 billion, equivalent to 200,673 BTC.

The post Bitcoin ETFs break trend recording modest inflows as GBTC continues outflow appeared first on CryptoSlate.