U.S. Spot Bitcoin ETF Sees Positive Net Inflow After Streak of Outflows!
by Jonathan Agozie 
Since their launch in January, the 11-spot Bitcoin funds have garnered a total net inflow of $14.42 billion as of Tuesday.
Spot bitcoin exchange-traded funds (ETFs) in the U.S. returned to net inflows on Tuesday, attracting a total of $31 million. This comes after the 11 bitcoin funds experienced net outflows for seven consecutive trading days.
Bitcoin ETF Flow (US$ million) – 2024-06-25
TOTAL NET FLOW: 31
(Provisional data)IBIT: 0
FBTC: 48.8
BITB: 15.2
ARKB: -6.2
BTCO: 0
EZBC: 0
BRRR: 0
HODL: 3.5
BTCW: 0
GBTC: -30.3
DEFI: 0For all the data & disclaimers visit:https://t.co/4ISlrCgZdk
— Farside Investors (@FarsideUK) June 26, 2024
Fidelity’s FBTC led the net inflows on Tuesday with $49 million, followed by Bitwise’s BITB, which reported $15 million in inflows. VanEck’s HODL also saw net inflows of $4 million, according to data from Farside Investors.
In contrast, Grayscale’s GBTC experienced net outflows of $30.3 million. Ark Invest and 21Shares’ ARKB saw $6 million in net outflows.
BlackRock’s IBIT, the largest spot bitcoin fund in terms of net asset value, had no net flows despite a daily trade volume of $1.1 billion on Tuesday. Other funds from Invesco, Galaxy Digital, Valkyrie, and Franklin Templeton also recorded no net flows.
Since their launch in January, the 11-spot Bitcoin funds have garnered a total net inflow of $14.42 billion as of Tuesday.
Ether ETFs Still Awaiting Launch
While it has been nearly six months since the spot Bitcoin ETFs started trading, their Ethereum counterparts have yet to launch. Experts had previously anticipated a July launch after the Securities and Exchange Commission (SEC) gave soft approval last month.
Firms recently filed amended S-1 registration statements, which is the final step before approval. Eric Balchunas, senior Bloomberg ETF analyst, expects spot Ethereum ETFs to launch soon, though the SEC has not confirmed a timeline.
SEC Chief Gary Gensler stated that the process for spot Ether ETFs in the U.S. is “going smoothly.” He noted that the final registration steps are currently being handled by SEC staff.
The SEC approved the 19b-4 filings from eight ETF bidders on May 23, but the asset managers are still completing their Form S-1s, the final requirement for approval before trading. Bitwise Chief Information Officer Matt Hougan predicted that spot Ether ETFs could accumulate $15 billion in net inflows within the first 18 months of their U.S. launch.
