Bitcoin (BTCUSD)

[ap17]

INFLOWS ARE BACK 😄
What’s this?

Bitcoin ETF inflows are back on the menu?

For the first time since June 12, the Bitcoin ETFs have recorded net inflows of $31 million.

Fidelity FBTC: $48.8 million 🥇

Bitwise BITB: $15.2 million 🥈

VanEck HODL: $3.5 million 🥉

Here’s the full breakdown:

etf flows
The only two funds to experience outflows for the day were Grayscale and ARK, with -$30.3m and -$6.2m respectively.

Interestingly, BlackRock had a net neutral day of $0 inflows/outflows.

Even with $1.1 billion in trade volume…

trading volume
Bitcoin ETF trade volume

Which means there wasn’t a big enough mismatch between supply and demand for the fund to acquire more Bitcoin.

(Most ETFs on most days will record zero inflows - this isn’t unique to the Bitcoin ETFs)

And with these inflows, Bitcoin briefly bounced back above $62,000, sitting at ~$61,400 at the time of writing.

meme
We’re back baby. 😎