Bitcoin ETFs Turn Positive After Five-Day $1.7B Losing Streak

Spot Bitcoin Exchange-Traded Funds (ETFs) have finally broken a significant streak of net outflows, registering a positive trading day after five consecutive days of investors pulling funds. The losing streak amounted to cumulative net withdrawals of approximately $1.7 billion, representing the longest sustained period of heavy selling pressure since the products launched in January.

Market data released on Wednesday indicated that the U.S. spot Bitcoin ETFs collectively achieved net inflows of $15.7 million, signaling a crucial turnaround in investor sentiment.

The recovery was predominantly driven by strong contributions from institutional favorite products. BlackRock’s iShares Bitcoin Trust (IBIT) led the charge, securing $6.3 million in net inflows, with Fidelity’s Wise Origin Bitcoin Fund (FBTC) following close behind with $5.9 million.

Analysts noted that the key factor allowing for the overall positive figure was the considerable slowdown in outflows from Grayscale’s Bitcoin Trust (GBTC). While GBTC continued to register daily withdrawals, the reduced pace meant the inflows into competing funds were sufficient to tip the aggregate balance into positive territory.

The reversal provides a much-needed boost to the sector, suggesting that the recent market turbulence, driven by macroeconomic concerns and cryptocurrency price volatility, may be stabilizing.

Source: Bitcoin ETFs Turn Positive After Five-Day $1.7B Losing Streak