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.
BlueBird Mining Ventures, a London-listed firm traditionally focused on gold, is making headlines after announcing it will liquidate its gold reserves and begin accumulating Bitcoin as a treasury asset.
Bitcoin tumbled sharply today, shedding more than 3.5% in a matter of hours and briefly flirting with the critical $100,000 level.
Bitcoin is treading water near $105,000, but pressure is building on both sides of the trade as macro forces tighten.
BlackRock is making another assertive move into digital assets, quietly expanding its crypto portfolio with sizable purchases of both Bitcoin and Ethereum.