First Positive Cash Flow in Bitcoin Spot ETFs After 7-Day Outflow

US Bitcoin spot ETFs recorded a total inflow of $31 million on June 25, marking the first day of positive cash flow after 7 consecutive days of outflow.

Bitcoin Spot ETFs See First Positive Cash Flow After 7-Day Outflow

After several days of grappling with a barrage of bad news that saw BTC plummet to its lowest in 1.5 months at $58,400, the crypto market seems to have returned to a semblance of calm today, June 26.

Funds from US Bitcoin spot ETFs on the stock exchange also indicate a slight shift in investor sentiment. As of the end of trading on June 25 (US time), Bitcoin ETFs recorded net inflows of $31 million.

Source: SoSoValue

This positive figure breaks the streak of 7 consecutive days of outflows. From June 13 to 24, total outflows from ETFs amounted to over $1.1 billion, directly impacting the sharp decline in Bitcoin prices.

According to data from SoSoValue, ETFs with positive cash flow on June 25 include Fidelity's FBTC with $49 million, Bitwise's BITB with $15 million, and VanEck's HODL with $4 million.

Meanwhile, ETFs with negative cash flow were Grayscale's GBTC with $30 million and Ark's ARKB with $6 million. The remaining funds did not record any cash flow.

Statistics on US Bitcoin ETFs on June 25, 2024. Source: SoSoValue

While breaking the 7-day streak of negative outflows is notable, the inflow into ETFs remains relatively low compared to the outflows of over $100 million per day observed the previous week.

Therefore, this is not yet a signal of optimism indicating market recovery in the near term, and further observation is warranted. Especially noteworthy is that the German government still holds 46,369 BTC, valued at $2.8 billion USD.

BTC is currently trading around $61,600, showing minimal change compared to the previous day.

1-hour chart of BTC/USDT pair on Binance as of 12:30 PM on June 26, 2024

ETH is similarly trading sideways around $3,380.