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Spot Bitcoin ETFs post $197.4M weekly inflow after eight weeks of outflows
BlackRock’s iShares Bitcoin Trust led inflows with $291.9M for the week, while Grayscale, Fidelity and ARK’s funds reported offsetting outflows.
US-listed spot Bitcoin exchange traded funds recorded net inflows of $197.4 million in the week ended Friday, snapping an eight week streak of weekly outflows that had started in May, according to data cited by Cointelegraph.
Cointelegraph reports that most of the weekly inflow came from BlackRock’s iShares Bitcoin Trust ETF, which pulled in $291.9 million, offset by outflows from the Grayscale Bitcoin Trust ETF, the Fidelity Wise Origin Bitcoin Fund and the ARK 21 Shares Bitcoin ETF.
The outlet said the change could point to improving institutional demand, but analysts cautioned it is too early to call a durable recovery after one week of positive flows.
Cointelegraph also noted that the $197.4 million weekly inflow was modest compared with the $8.26 billion in withdrawals since May 11, while some strategists pointed to potential headwinds around August and September seasonality and ongoing ETF and stablecoin outflow pressure.
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