Spot Bitcoin ETFs gain momentum as Inflows break five-day outflow trend

Bitcoin (BTC) exchange-traded funds (ETFs) saw a total of $15.4 million in inflows, marking the end of a five-day streak of outflows.

Spot Bitcoin ETFs listed on Nasdaq saw a total of $15.4 million in inflows on Monday, marking a significant shift in investor sentiment. This influx breaks a streak of five consecutive days of outflows, according to provisional data released by investment firm Farside.

Spot Bitcoin ETFs witnessed inflows totaling $15.4 million

Fidelity’s FBTC led the inflows with $261.8 million, followed by BlackRock’s IBIT with $35.5 million. Other funds, such as BITB, BTCO, EZBC, and BRRR, also saw healthy inflows ranging from $11 million to $20 million each.

Meanwhile, Grayscale’s ETF (GBTC) continued to experience a decline in assets, losing just over $350 million during this period.

The recent positive inflows mark a reversal from the significant outflows totaling $887.6 million observed in ETFs last week, largely driven by substantial withdrawals from GBTC.

The introduction of nearly a dozen spot ETFs in the US on January 11 has provided investors with a convenient avenue to gain exposure to the leading cryptocurrency, circumventing the complexities associated with directly owning and storing digital assets.

In contrast to futures-based ETFs, which debuted in October 2021 and necessitate position rollover, spot ETFs directly invest in Bitcoin.

Markus Thielen, founder of 10x Research, expressed his perspective, indicating that quarter-end flows could exert a more significant influence than usual and potentially propel Bitcoin’s price to new highs.

“With Bitcoin surpassing $70,000, meritking we can interpret Tuesday’s flows as positive once more. By quarter-end, flows may exhibit greater strength than typical,” Thielen remarked, underscoring the potential influence of quarterly dynamics on Bitcoin’s price movement.

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