Bitcoin ETFs Rebound With $221M Inflows After Heavy June Outflows

TLDR

• US spot Bitcoin ETFs recorded $221.7 million in net inflows on Thursday.
• The inflows ended a 10-day outflow streak worth more than $2.7 billion.
• Bitcoin ETFs posted their first daily net inflow above $200 million since early May.
• Fidelity’s FBTC led the rebound with $166 million in net inflows.
• ARK 21Shares Bitcoin ETF followed with $91.8 million in net inflows.

US spot Bitcoin exchange-traded funds returned to strong demand on Thursday. Bitcoin ETFs recorded $221.7 million in daily net inflows. The rebound ended a 10-day withdrawal streak worth over $2.7 billion.

Bitcoin ETFs Rebound After Heavy June Outflows

Bitcoin ETFs posted their first daily inflow above $200 million since early May. The move followed weeks of pressure across US-listed spot funds. The funds had also recorded $4.5 billion in June outflows.

The return of inflows came as Bitcoin moved back above $61,000. Earlier, Bitcoin briefly dropped below $59,000 during a weaker trading stretch. However, the price recovery supported renewed activity across Bitcoin ETFs.

SoSoValue data showed total net inflows reached $221.7 million on Thursday. That figure marked a sharp change from recent daily withdrawals. Bitcoin ETFs gained support as buyers returned after sustained redemptions.

Fidelity Leads Bitcoin ETF Inflows As BlackRock Sees Outflows

Fidelity’s Wise Origin Bitcoin Fund led the daily rebound with $166 million. The fund accounted for about 75% of total Thursday inflows. Farside Investors data showed Fidelity drove most Bitcoin ETFs activity.

ARK 21Shares Bitcoin ETF followed with $91.8 million in net inflows. VanEck Bitcoin ETF added $4.4 million during the same session. Valkyrie Bitcoin Fund also attracted $1.7 million in fresh inflows.

BlackRock’s iShares Bitcoin Trust moved in the opposite direction on Thursday. IBIT posted $40.4 million in net outflows during the session. The fund has lost over $2.2 billion since June 17.

Ether And XRP Funds Rise As Sentiment Stays Weak

US spot Ether ETFs also recorded inflows as crypto funds recovered. Ether products attracted $29.1 million on Thursday. They had also posted $14.9 million in inflows one day earlier.

XRP ETFs returned to inflows after two straight sessions of outflows. The products recorded $6.6 million in net inflows on Thursday. Their move showed wider demand beyond ETFs during the session.

The crypto market still showed weak sentiment despite the inflow rebound. Alternative.me placed the Fear & Greed Index at “extreme fear” on Friday. Meanwhile, CoinGecko data showed market capitalization rose 2.4% to $2.22 trillion.

The post Bitcoin ETFs Rebound With $221M Inflows After Heavy June Outflows appeared first on CoinCentral.