Bitcoin Spot ETFs’ Flow Turns Negative Once Again

The recent days have seen a stunning fluctuation in the net inflows of Bitcoin ETFs. As per SpotOnChain, the popular on-chain analytics firm, the BTC ETFs experienced a slump of up to $14 million in terms of their net inflows on July 2. The platform took to its social media account to reveal this development.

🚨 $BTC #ETF Net Inflow July 2, 2024: -$14M!

• The net inflow turned slightly negative after being positive for 5 days.

• #Grayscale (GBTC) saw an outflow of $32.4M, larger than the sum of all other Bitcoin ETFs' inflows.

• #BlackRock (IBIT) had the largest inflow of the… pic.twitter.com/GvXMN34Gq6

— Spot On Chain (@spotonchain) July 3, 2024

Bitcoin Spot ETFs Again See Negative Inflows on July 2

In its new post on X, the company mentioned that exchange-traded funds have recently been turning negative. According to the on-chain analytics company, this slightly negative momentum has been occurring over the last 5 trading days. In addition to this, SpotOnChain also provided the individual positions of the Bitcoin exchange-traded funds.

Grayscale’s Single-Day Outflow Exceeds the Cumulative Inflows of the Rest of the ETFs

In this respect, the company pointed out that Grayscale ETF (GBTC) took the top position in the list. The exchange traded fund reportedly saw an outflow of up to $32.4 million. The respective amount is reportedly bigger than the cumulative inflows of the rest of the Bitcoin ETFs. Contrary to Grayscale, the BlackRock ETF (IBIT) remained effective in making some inflows.

The exchange-traded fund witnessed a per-day inflow of nearly $14.1 million on July 2. Apart from that, the BITB ETF saw a plunge of almost $6.8 million. The analytics platform also brought to the front that BTCW, EZBC, BTCO, and BRRR did not see any inflows at all. However, ARKB and FBTC secured inflows of approximately $2.5M and $5.4M respectively.