The 15-day streak of net inflows into Bitcoin ETFs on US exchanges has ended with a $342.2 million outflow. This article explores the major trends and factors affecting the market.
End of Inflow Period for Bitcoin ETFs
The 15-day streak of inflows into Bitcoin ETFs, which began on June 1, 2024, has concluded with a total of $4.7 billion attracted. BlackRock's IBIT recorded zero net flows despite an overall inflow of $3.8 billion during this period. The largest outflows came from Fidelity's FBTC, Grayscale's GBTC, Ark Invest's ARKB, and Bitwise's BITB.
Ethereum ETF Situation
On the same day, spot Ethereum ETFs saw net inflows of $40.7 million, primarily contributed by BlackRock's ETHA, which added $54.8 million. This marks the third consecutive day of inflows for Ethereum ETFs, totaling $150 million over three days.
Analysis of Current Market Conditions
According to BRN's analyst Valentin Fournier, the slowdown in inflows indicates a temporary cooling of institutional interest but does not signal a trend reversal. He also noted that Bitcoin's consolidation in the $105,000-$110,000 range could create a bullish market if new incentives emerge.
The end of the 15-day inflow period for Bitcoin ETFs suggests a possible temporary cooling in institutional interest towards the asset. However, the positive dynamics in Ethereum ETFs continue to bolster the sector.
