Net flows of $239.9 million on Thursday marked the end of a six-day streak of outflows that had drained almost $1.4 billion from US spot Bitcoin ETFs.
This significant reversal comes after a turbulent week where profit-taking, driven by macroeconomic uncertainty, led to heavy redemptions from these institutional investment vehicles.
Bitcoin ETF Performance
The positive momentum was led by major asset management firms. BlackRock's iShares Bitcoin Trust (IBIT) saw inflows of $112.4 million, followed by Fidelity’s Wise Origin Bitcoin Fund (FBTC) with $61.6 million. The ARK 21Shares Bitcoin ETF (ARKB) also reported strong performance, adding $60.4 million.
Notably, Grayscale's GBTC fund, which had experienced consistent outflows, recorded no change in net flows on Thursday.
This recent six-day selling streak was considered one of the steepest pullbacks since US spot Bitcoin ETFs began trading in January.
Performance of Other Cryptocurrency ETFs
The positive trend extended to other cryptocurrency ETFs. Exchange-traded products (ETPs) tracking Ether (ETH) also experienced an end to a six-day outflow streak, albeit on a smaller scale.
Spot ETH ETFs had recorded net sales of approximately $837 million during the prior outflow period. On Thursday, these products managed to reverse the trend, posting modest gains of $12.51 million.
In contrast, spot Solana (SOL) ETFs have demonstrated outstanding performance since their launch on October 28. Data indicates that SOL-based products have accumulated $322 million in inflows and have not experienced a single day of net outflows.
The information presented in this article is for informational purposes only and should not be interpreted as investment advice. The cryptocurrency market is highly volatile and may involve significant risks. We recommend conducting your own analysis.