Farside's latest data shows a revival in the spot Bitcoin exchange traded fund (ETF) sector with inflows of $21.4 million on June 26, marking a second consecutive day of inflows.
Fidelity’s FBTC led the way with inflows of $18.6 million, while Grayscale’s GBTC saw inflows of just $4.3 million and VanEck’s HODL saw inflows of $3.4 million.
That’s pretty positive news, considering that in the week beginning June 17 and ending June 21, U.S. Bitcoin ETFs recorded outflows of $544.1 million.
The streak of outflows didn’t stop there, however, as the products witnessed a total outflow of $174.5 million on June 24.
This trend may suggest that BTC is stabilizing around the $60,000 mark, which could potentially signal the end of the current correction in Bitcoin.
While the International Monetary Fund (IMF) publicly claims that El Salvador has stopped accumulating Bitcoin as part of its loan agreement, blockchain evidence paints a different picture.
Switzerland’s central bank remains firmly opposed to adding Bitcoin to its reserves, despite growing pressure from crypto advocates.
Bitcoin investment products just recorded one of their strongest weeks in recent memory, as spot BTC ETFs based in the U.S. attracted over $3 billion in new inflows.
Crypto analytics firm Alphractal has released new insights into the altcoin market, highlighting RAY as the token with the highest long-to-short ratio among major altcoins.