The United States-based Spot Bitcoin ETFs have witnessed a continuous outflow for the past seven days. On June 25, it injected $31 million of funds to reverse the trend. The 11 spot Bitcoin funds launched in January have accumulated $14.42 billion in net inflows until now.
Financial research platform SoSo Value revealed that during the previous seven trading days, the spot BTC ETF witnessed a net outflow of $1.1 billion. Grayscale’s Bitcoin bled the most during the last week, with the total outflow crossing 80,000 BTC.
On the other hand, the data shows that the Fidelity Wise Origin Bitcoin Fund saw a massive inflow of $49 million, Bitwise Bitcoin ETF saw a net inflow of %15 million, followed by VanEck Bitcoin Trust ETF gathering $4 million of funds.
Not all the ETFs saw an inflow of funds; Greyscale‘s Bitcoin ETF and ARK 21Shares Bitcoin ETF saw net outflows of $30.3 million and $6 million, respectively. Similarly, BlackRock’s iShares Bitcoin Trust ETF also saw no major inflow. Meanwhile, Invesco Galaxy, Franklin Templeton, and Valkyrie followed the same trend.
Spot Ethereum ETFs set for Launch
After the U.S. SEC gave a soft approval to spot Ether ETFs in May, U.S. issuers are now finalizing their registrations before the launch. While speaking at the Bloomberg conference on June 25, the SEC Chair Gary Gensler remained silent when asked if the Spot ETH ETF will start its trading before the November United States election
It’s really about the asset managers making the full disclosure so that those registration statements can go effective,
Firms have submitted amended Form S-1 registration statements as part of the process. According to Bloomberg ETF analyst Eric Balchunas, spot Ethereum ETFs could start trading in the U.S. by July 2. Recently, investment firm VanEck took a step forward in launching its spot Ethereum ETF by filing Form 8-A with the SEC.
Matthew Sigel, Head of Digital Assets Research at VanEck, suggested that the firm will waive fee charges for the spot Ethereum ETF once it gets approval from the United States SEC for trading.
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