As a researcher with extensive experience in the crypto market, I’ve closely monitored the trends of US-listed Bitcoin Exchange Traded Funds (ETFs) over the past few months. The recent uptick in collective inflows of $21.52 million on June 26th is a promising sign of recovery for these investment vehicles.
As a Bitcoin market analyst, I’ve noticed that US-listed spot Bitcoin Exchange-Traded Funds (ETFs) have been gradually recovering. On June 26th alone, these ETFs recorded collective inflows amounting to $21.52 million, marking the continuation of the positive trend that started on Tuesday.
Over the last four days, BlackRock’s iShares Bitcoin Trust (IBIT) hasn’t made any new investments. While this is not a record for the fund, it did experience five consecutive days without any inflows back in April.
As a researcher, I’ve observed that BlackRock has experienced a decline in its activity lately, with just two insignificant inflows since June 14th. These inflows didn’t exceed the $2 million mark each.
As a crypto investor, I can explain that zero flows in an Exchange-Traded Fund (ETF) mean the point where the demand for shares matches the supply. At this equilibrium, no new shares are created or redeemed, as previously discussed by Bloomberg ETF analyst James Seyffart.
In simpler terms, when there’s little to no new money coming into a trade, it doesn’t automatically imply no trading is occurring. Instead, it signifies insignificant net flow that does not necessitate readjusting the number of shares involved.
On that particular day, Bitcoin ETFs like BITB by Bitwise, BTCO by Invesco, and Galaxy Digital’s, as well as BRRR by Valkyrie, all encountered a common trend of having no inflows.
In contrast, Fidelity’s FBTC fund experienced the largest inflows of $19 million on that particular day, according to SoSoValue’s data. Previously, this fund had recorded daily outflows for seven consecutive days from June 13 to 24. However, this trend was broken on June 26 as FBTC took the lead among spot Bitcoin ETFs in ending the streak of net negative flows.
Yesterday, approximately $4 million worth of investments flowed into Grayscale’s GBTC product, marking the first inflow since June 5.
As a researcher studying the investment landscape, I’ve observed that since their debut in January, these particular investment instruments have drawn in an impressive $14.44 billion in new investments.
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2024-06-27 13:48