As of this writing, with data from Friday’s trading session yet to be included, the US-based Bitcoin ETFs are currently on a nine-day streak of positive inflows. However, a focused look into the inflows trend shows that this data point doesn’t fully tell the story.
On the other hand, the second-largest BTC ETF Fidelity Wise Origin Bitcoin Fund (FBTC) has had a mixed performance in recent days, signaling a trend of portfolio rebalancing amongst their investors. Meanwhile, Grayscale’s GBTC has struggled with muted capital performances, interspersed with some daily net outflows.
CryptoOnchain also highlighted the Invesco Galaxy Bitcoin ETF (BTCO), which witnessed a major one-day outflow, which precipitated significant market pressure. However, the net positive activity of BlackRock’s IBIT kept the BTC price afloat at the time.
As of this writing, Bitcoin is valued at around $112,143, reflecting an over 7% downturn in the past 24 hours.
According to the on-chain firm, the exchange-traded funds have continued to record capital inflows despite BTC’s mild pullback from its all-time high. “This suggests structural buying is still underpinning the market, helping to absorb volatility and stabilize price action,” Glassnode concluded.
