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


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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