TLDR
- Net flows of $239.9 million on Thursday end a six-day streak of outflows that drained almost $1.4 billion.
- BlackRock (IBIT) and Fidelity (FBTC) led the inflows, while Grayscale’s GBTC recorded no change.
- Ether ETFs also saw an end to a negative streak; Solana ETFs have maintained positive inflows since their launch.
This Thursday, US spot Bitcoin ETFs experienced significant relief. They recorded a net inflow of $239.9 million. This positive income marks the end of a negative streak of six consecutive days of outflows, during which almost $1.4 billion was drained from the market.
According to data from Farside Investors, this expected reversal comes after a turbulent week. Profit-taking, driven by macroeconomic uncertainty, had led to heavy redemptions from the main institutional Bitcoin investment vehicles.
The rebound was led by the asset management giant, BlackRock, whose iShares Bitcoin Trust (IBIT) added $112.4 million. It was followed by Fidelity’s Wise Origin Bitcoin Fund (FBTC), with $61.6 million, and the ARK 21Shares Bitcoin ETF (ARKB), which reported $60.4 million. Notably, Grayscale’s GBTC fund, which had experienced consistent outflows, showed no change on this day.
In total, this six-day selling streak is considered one of the steepest pullbacks since US spot Bitcoin ETFs began trading in January.
Performance of other cryptocurrency ETFs
The positive momentum was not limited to Bitcoin. Similarly, exchange-traded products (ETPs) that track Ether (ETH) also saw the end of a six-day outflow streak, although on a smaller scale.
Data from Farside Investors indicates that spot ETH ETFs had net sales of approximately $837 million during that period. However, on Thursday, they managed to reverse the trend with modest gains of $12.51 million.
On the other hand, spot Solana (SOL) ETFs have shown outstanding performance since their launch on October 28. The data reveals that SOL-based products have accumulated $322 million in inflows and, significantly, have not experienced a single day of net outflows.
