Cryptos: 8 650
Exchanges: 53
Market capitalization: $2.49T

US Spot Bitcoin ETFs Snap Two-Week Outflow Streak With $301M Weekly Inflow

US spot Bitcoin ETFs recorded $301 million in net inflows for the week, ending a two-week run of withdrawals.

US spot Bitcoin exchange-traded funds collectively took in $301 million in net inflows over the past week, halting a two-week stretch in which investors pulled money out of the products. The figure marks a turnaround for the category after a period of sustained redemptions.

The week did not follow a steady path. Inflows were strong at the start, with the first three trading days bringing in capital, but heavy withdrawals later in the period eroded those gains and were large enough to push the weekly total back into positive territory only narrowly.

Market backdrop

Bitcoin ($BTC-2.03%) traded near $80,142 at the time of the data, slipping 0.53% over the last 24 hours and falling 3.24% over seven days. Trading volume across the previous day reached roughly $8.26 billion, indicating that the asset remained actively traded despite the softer weekly performance.

The modest weekly net inflow suggests that demand for regulated Bitcoin exposure through spot ETFs was mixed rather than decisively bullish. Flows into these funds are closely watched by market participants as one indicator of institutional interest in the asset.

29

Comments

0

No comments yet. Be the first

CMC.IO provides a fundamental analysis of the crypto market. In addition to tracking price, volume and market capitalization, CMC.IO tracks community growth, open-source code development, major events and on-chain metrics.

IMPORTANT DISCLAIMER: All content provided herein our website, hyperlinked sites, associated applications, forums, blogs, social media accounts and other platforms "Site" is for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them. Trading is a highly risky activity that can lead to major losses, please therefore consult your financial advisor before making any decision. No content on our Site is meant to be a solicitation or offer.

© 2023 CMC.IO. All rights reserved