U.S. spot bitcoin exchange-traded funds (ETFs) saw their first day of inflows following two days of outflows. The 11 funds garnered $143.1 million during Friday’s trading sessions, closing out the week on a positive note.
US Spot Bitcoin ETFs Attract $143 Million in Inflows Amid BTC Price Drop
This article was published more than a year ago. Some information may no longer be current.
WRITTEN BY
SHARE
Friday’s ETF Action Bounces Back After 2 Days of Outflows
On Friday, the 11 spot bitcoin ETFs performed significantly better even as bitcoin (BTC) prices fell to a low of $53,550 that day. Approximately $143.1 million in inflows were recorded, with Fidelity’s FBTC leading the group by attracting $117.38 million. Following close behind, Bitwise’s BITB garnered $30.19 million.
FBTC now holds 168,687.08 BTC in reserves, while Bitwise’s BITB has 38,603.39 BTC. Vaneck’s HODL drew in $12.79 million, raising its reserves to 10,068.43 BTC. Ark Invest and 21shares’ ARKB secured $11 million on Friday, making it the only other fund to see inflows on July 5, according to sosovalue.xyz metrics.
ARKB now holds 46,266 BTC following Friday’s additions. Conversely, Grayscale’s GBTC experienced outflows on June 5, with a reduction of $28.57 million. This decrease lowers GBTC’s reserves to 274,249.03 BTC. Meanwhile, Blackrock’s IBIT saw no change in inflows or outflows, maintaining its reserves at 307,206.23 BTC.
What do you think about Friday’s spot bitcoin ETF action? Let us know what you think about this subject in the comments section below.
