Bitcoin Spot ETFs See $131M Net Outflow, Snapping 12-Day Inflow Streak
Main Idea
Bitcoin spot ETFs experienced a net outflow of $131 million, ending a 12-day inflow streak, while Ethereum spot ETFs saw strong inflows of $296.59 million, reflecting a potential market rebalancing.
Key Points
1. Bitcoin spot ETFs recorded a net outflow of $131.35 million, breaking a 12-day inflow streak, possibly due to profit-taking after Bitcoin's price stabilized between $98,000 and $117,000.
2. Ethereum spot ETFs attracted $296.59 million in inflows, marking a 12-day streak, with BlackRock’s ETHA and Fidelity’s FETH leading the gains.
3. Total net assets for Bitcoin spot ETFs stand at $151.6 billion, accounting for 6.52% of Bitcoin’s market cap, with daily trading volume reaching $4.1 billion on July 21.
4. Ethereum ETFs now manage $19.6 billion in net assets, representing 4.32% of Ethereum’s market cap, with daily trading volumes at $3.21 billion.
5. Analysts suggest the shift in ETF flows indicates a broader market rebalancing, with Ethereum gaining traction while Bitcoin’s rally may be slowing temporarily.
Description
Bitcoin spot exchange-traded funds (ETFs) recorded a net outflow of $131.35m on July 21, ending a 12-day run of continuous inflows, according to data from SoSoValue . The reversal follows shifting investor sentiment and portfolio rebalancing, while Ethereum spot ETFs logged strong gains, pulling in nearly $297m the same day. The outflow marked a pause in what had been a robust period for Bitcoin funds, which had collectively attracted over $6.6b in net inflows since early July. This sudden shift...
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