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Bitcoin ETF Recap:
Another Tough Week Despite a Few Bright Spots
We will also review the landscape around the Ethereum ETFs in this article. The last trading day of the previous business week finally brought some more net inflows rather than consistent outflows for the spot Bitcoin ETFs in the United States.
The products tracking the world's largest altcoin had even more to celebrate at the end of the week, but still closed in the red.
The Good and the Bad: BTC ETF Edition
There's no need to sugarcoat the end result
- the week was still dominated by the bears.
Investors pulling out funds from the spot Bitcoin ETFs withdrew $526.64 million
throughout the four-day trading week. This means that the overall negative streak continues as the products have not seen a single green week in almost two months.
Within this timeframe, the total cumulative flows have dumped from $59.34 billion to $51.08 billion. July 1 saw the most daily withdrawals, with $294.62 million leaving the funds, according to SoSoValue data. Another $222.64 million went out on June 30 and $231.10 million on June 29. That's all on the negative side.
The bright side was July 2. After 10 consecutive days of only net inflows, the streak was broken as investors poured in $221.72 million. Moreover, this was the highest single-day inflow recorded since May 5. Friday was a non-trading day due to the July 4 holiday, meaning that the week ended on a more positive note.#gStocksTokenizedStocksLive #WeakNFPShakesRateHikeOdds #PredictWorldCup🇧🇷vs🇳🇴 #ETHBreaks1700 #MetaSellsComputeTriggersChipSlump $ETH $BTC