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Bitcoin ETFs Break Trend, Seeing Modest Inflows as GBTC Continues to Exit

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Quick take

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

ETF data in dollars: (Source: BitMEX)
ETF data in dollars: (Source: BitMEX)

Data from BitMEX shows that Fidelity had a strong day with net inflows of $261.8 million, equivalent to 3,689.3 BTC, bringing its total inflows to $7,213.4 billion, equivalent to 136,886 BTC . It is worth noting that none of the remaining eight ETFs experienced outflows. ARKB and BTCW remained stagnant, experiencing neither inflows nor outflows. Cumulatively, Bitcoin ETFs have amassed $11,284.8 billion, the equivalent of 200,673 BTC.

Bitcoin ETF data: (Source: BitMEX)
Bitcoin ETF data: (Source: BitMEX)

Post-Bitcoin ETFs Break Trend by Seeing Modest Inflows as GBTC Continues Outflow appeared first on CryptoSlate.

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