After a challenging week, U.S. Bitcoin-Exchange-Traded Funds (ETFs) began the new week with modest capital inflows. Last week, these funds experienced significant outflows, losing $176 million, marking the worst trading week since mid-June. However, the start of this week has brought some positive, albeit small, developments.
According to fresh data from SoSoValue, Bitcoin-focused Exchange-Traded Funds (ETFs) in the U.S. managed to scrape together $27.87 million on Monday. It’s not a huge amount, but after the rough patch last week, even a small gain feels like a breath of fresh air.
Among the funds, ARK Invest and 21Shares’ ARKB fund took the lead, bringing in $35.40 million. BlackRock’s IBIT fund and Grayscale’s newly launched BTC fund also saw some positive action, with inflows of $13.45 million and $7.85 million, respectively.
However, not all funds fared well. Grayscale’s GBTC fund, which has already seen over $19.46 billion in outflows, lost another $11.77 million yesterday. Bitwise had an even tougher time, with $17.06 million leaving the fund.
Other Bitcoin ETFs from Fidelity, VanEck, Valkyrie, Invesco, Franklin Templeton, and Wisdom Tree stayed flat on Monday, with no gains or losses.
While the overall inflow is modest, it’s a welcome change from last week’s disappointment. We’ll keep a close watch to see if this trend continues or if we’re in for another bumpy ride this week.
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