After a week of net outflows, U.S.-based Bitcoin exchange-traded funds (ETFs) experienced a reversal on June 25, with net inflows reaching $31 million.
Data from SoSo Value indicates a reversal from the last seven consecutive trading days, which saw a total of $1.1 billion in outflows from Bitcoin (BTC) ETFs.
Flow direction reversal
Data shows that the Fidelity Wise Origin Bitcoin Fund (FBTC) led net inflows on Tuesday, June 25, with $49 million, followed by the Bitwise Bitcoin ETF (BITB) with inflows of $15 million and the VanEck Bitcoin Trust ETF (HODL) with net inflows of $4 million.
On the other hand, Grayscale Bitcoin Trust (GBTC) saw net outflows of $30.3 million, while the ARK 21Shares Bitcoin ETF reported net outflows of $6 million.
However, BlackRock’s iShares Bitcoin Trust ETF (IBIT) – the largest fund by assets under management – saw no inflows on June 25. The same goes for the Invesco Galaxy, Valkyrie and Franklin Templeton ETFs.
As of June 25, the 11 Bitcoin spot funds launched in January had seen net inflows of $14.42 billion.
Related: Bitcoin Sentiment Index Falls to “Fear” – Lowest Level in 18 Months
Recent outflows from U.S. Bitcoin ETFs are the highest since April, when they saw total net outflows exceeding $1.2 billion between April 24 and early May.
Spot Ether ETFs prepare to launch
Following the initial approval of Ethereum (ETH) ETFs by the U.S. Securities and Exchange Commission (SEC) in May, potential U.S. issuers continue to finalize their registrations ahead of launch.
As part of this process, the companies recently filed amended registration statements for Form S-1. Ethereum ETFs will likely begin trading in the United States by July 2, according to Bloomberg ETF analyst Eric Balchunas.
On June 25, investment manager VanEck filed a Form 8-A with the SEC for its cash ETF, bringing it closer to launch.
In the same time frame, the price of Bitcoin increased from $61,359 on June 25 to $61,732 at press time, representing a 0.6% increase according to TradingView data.
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