Bitcoin ETF data reveals a significant change in market sentiment. On June 11, 2024, Bitcoin ETFs saw total daily net outflows of $200.31 million, reflecting a recent dip in Bitcoin’s value. Let’s delve into the specifics of the spot Bitcoin ETF data.
Bitcoin ETF Figures
When examining the distribution of major ETFs, the Grayscale Bitcoin Trust (GBTC) stood out with a substantial net outflow of $121 million. Despite this, the ETF is still trading at a slight premium. Meanwhile, BlackRock’s Bitcoin ETF (IBIT), which recently surpassed Grayscale in total net assets, showed no net inflows or outflows but traded at a 0.34% premium. This indicates ongoing investor interest and confidence in the ETF, as the absence of outflows amidst overall outflows suggests 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 sustained investor interest. Similarly, ARK Invest’s Bitcoin ETF (ARKB) saw 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 noted a $12 million outflow. Despite these outflows, some Bitcoin ETFs had balanced inflows and outflows, resulting in zero net change. Examples include Invesco, Valkyrie, Franklin, WisdomTree, and Hashdex’s Bitcoin ETFs.
In conclusion, these figures illustrate a varied market sentiment towards Bitcoin ETFs. Despite temporary setbacks, the ETFs continue to trade at a premium, underscoring investor confidence in their significance. Furthermore, the outflows have impacted Bitcoin’s price, which fell to $66,050 yesterday. As of now, Bitcoin, the leading cryptocurrency, is trading at $67,304.
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Disclaimer: This article does not serve as investment advice. Investors should be aware of the high volatility and risks associated with cryptocurrencies and conduct their own research.
