In June, spot bitcoin ETFs saw a net inflow of $790 million even as bitcoin prices fell 7%. BlackRock's iShares Bitcoin Trust (IBIT) continued to be the largest bitcoin fund, with inflows exceeding $1 billion, offsetting a huge outflow from Grayscale Bitcoin Trust (GBTC). In contrast, in April, when bitcoin prices fell 15%, spot funds as a whole saw massive outflows.
Eric Balchunas, senior ETF analyst at Bloomberg Intelligence, noted that the holding power of baby boomers is stronger than expected. The inflows in June benefited in part from the anticipation of spot Ethereum ETFs. Regulators and potential issuers are working to gain approval, and it is expected that these ETFs may list this month, indicating that regulators are gradually accepting the cryptocurrency industry as part of the financial system.
Even as Bitcoin Falls, Spot Bitcoin ETFs Received a Net Inflow of $790 million in June
2024-07-02 21:53:06
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