Bitcoin ETF data reveals a significant shift in market sentiment. On June 11, 2024, the total daily net outflows from Bitcoin ETFs amounted to $200.31 million, reflecting a recent decline in the cryptocurrency Bitcoin. Let’s delve into the specifics of spot Bitcoin ETF figures.
Bitcoin ETF Figures
Analyzing the major ETF landscape, the Grayscale Bitcoin Trust (GBTC) stood out with the largest net outflow of $121 million. Despite this, the ETF continues to trade at a slight premium. Stay updated with the latest technology news on NEWSLINKER.
On the flip side, BlackRock’s Bitcoin ETF (IBIT), which recently surpassed Grayscale in total net assets, saw no net inflows or outflows, trading at a 0.34% premium. This indicates sustained investor interest and confidence in the ETF. The lack of outflows amidst a period of overall outflows signals high investor expectations.
Other ETF Figures
The Fidelity WiseOrigin Bitcoin ETF (FBTC) experienced a net outflow of $7 million but maintained a 0.24% premium, showcasing ongoing investor interest. Similarly, ARK Invest’s Bitcoin ETF (ARKB) witnessed a significant net outflow of $56 million.
Among other ETFs, the VanEck Bitcoin ETF (HODL) reported a $4 million outflow, while Bitwise’s Bitcoin ETF recorded a $12 million outflow. Despite these outflows, certain Bitcoin ETFs balanced inflows and outflows, resulting in zero net change. Examples include Invesco, Valkyrie, Franklin, WisdomTree, and Hashdex’s Bitcoin ETFs.
In conclusion, these figures depict a mixed market sentiment towards Bitcoin ETFs. Despite temporary setbacks, the ETFs’ trading at a premium and sustained investor confidence underscore their perceived significance. Furthermore, the outflows have impacted Bitcoin’s price, which dipped to $66,050 yesterday. Currently, Bitcoin, the leading cryptocurrency, is trading at $67,304.
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Disclaimer: The information provided in this article is not intended as investment advice. Investors should be aware of the high volatility and risks associated with cryptocurrencies and conduct thorough research before making any investment decisions.
