In the dynamic world of cryptocurrency, the Bitcoin ETF landscape has recently undergone significant volatility. SpotOnChain, a renowned on-chain analytics firm, reported a notable decrease in net inflows for Bitcoin ETFs, with a drop of $14 million on July 2. This update was shared by the firm on their social media channels.
$BTC #ETF Net Inflow July 2, 2024: -$14M!
– After five days of positive figures, the net inflow shifted into a slight deficit.
– #Grayscale (GBTC) experienced a substantial outflow of $32.4M, surpassing the total inflows of all other Bitcoin ETFs combined.
– #BlackRock (IBIT) recorded the highest inflow for the day…
— Spot On Chain (@spotonchain) July 3, 2024
**Recent Trends in Bitcoin Spot ETFs Highlight a Shift to Negative Inflows**
SpotOnChain’s latest social media post highlighted a trend of negative net inflows for Bitcoin exchange-traded funds, marking a shift over the past five trading days. The firm also detailed the individual performance of various Bitcoin ETFs.
**Grayscale Dominates with Record Outflows Amidst ETF Fluctuations**
Grayscale’s Bitcoin ETF (GBTC) emerged as a notable player, witnessing a single-day outflow of $32.4 million, an amount that eclipsed the combined inflows of other Bitcoin ETFs.
**BlackRock’s ETF Makes Notable Gains Contrasting Grayscale’s Losses**
In contrast to Grayscale, BlackRock’s Bitcoin ETF (IBIT) achieved significant inflows, with a reported $14.1 million influx on July 2. Meanwhile, the BITB ETF faced a downturn with a $6.8 million drop. The report also highlighted that several ETFs, including BTCW, EZBC, BTCO, and BRRR, did not attract any inflows. On a brighter note, ARKB and FBTC managed to secure inflows of approximately $2.5M and $5.4M, respectively.