Shift

Bitcoin ETF

Grayscale Bitcoin Trust

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/bitcoin-etf-data-shows-significant-market-sentiment-shift/" data-wpel-link="internal">Bitcoin ETF Data Shows Significant Market Sentiment Shift</a><br></p>
<p style="text-align: justify"><strong><a href="https://en.coin-turk.com/us-government-holds-over-8-3-billion-in-bitcoin/" data-wpel-link="internal">Bitcoin</a> ETF</strong> <a href="https://newslinker.co/category/ai/" target="_blank" rel="noopener" data-wpel-link="exclude">data</a> indicates a significant shift in <a href="https://finance.coin-turk.com/" data-wpel-link="exclude">market</a> sentiment. On June 11, 2024, the total daily net outflows from Bitcoin ETFs were recorded at $200.31 million. This can be seen as a reflection of the recent pullback in the cryptocurrency Bitcoin. Let’s look at the spot Bitcoin ETF figures.</p> 
<h2 style="text-align: justify" id="bitcoin-etf-figures">Bitcoin ETF Figures</h2> 
<p style="text-align: justify">Looking at the distribution of major ETFs, Grayscale Bitcoin Trust (<strong>GBTC</strong>) experienced the most significant net outflow, amounting to $121 million. However, despite the outflows, the ETF is trading at a slight premium.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="wp-image-361473 size-full aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/06/etf-2.png" alt="" width="1622" height="792"></p> 
<p style="text-align: justify">On the other hand, BlackRock’s Bitcoin ETF (IBIT), which recently surpassed Grayscale in total net assets, saw no net inflows or outflows. However, it traded at a 0.34% premium. This reflects continued investor interest and confidence in the ETF. The absence of outflows during a period of overall outflows indicates high investor expectations.</p> 
<h2 style="text-align: justify" id="other-etf-figures">Other ETF Figures</h2> 
<p style="text-align: justify">The Fidelity WiseOrigin Bitcoin ETF (FBTC) experienced a net outflow of $7 million but still traded at a 0.24% premium, indicating continued investor interest. Similarly, ARK Invest’s Bitcoin ETF (<strong>ARKB</strong>) saw a significant net outflow of $56 million.</p> 
<p style="text-align: justify">Among other ETFs, the VanEck Bitcoin ETF (HODL) reported a $4 million outflow, while Bitwise’s Bitcoin ETF noted a $12 million outflow. Despite the outflows, some Bitcoin ETFs had balanced inflows and outflows, resulting in zero net change. Examples include Invesco, Valkyrie, Franklin, WisdomTree, and Hashdex’s Bitcoin ETFs.</p> 
<p style="text-align: justify">Overall, these data indicate mixed market sentiment towards Bitcoin ETFs. Despite short-term pullbacks, the ETFs still trading at a premium and continued investor confidence highlight their perceived importance. Additionally, the outflows have impacted Bitcoin’s price, which dropped to $66,050 yesterday. At the time of writing, Bitcoin, the flagship cryptocurrency, is trading at $67,304.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/bitcoin-etf-data-shows-significant-market-sentiment-shift/" data-wpel-link="internal">Bitcoin ETF Data Shows Significant Market Sentiment Shift</a></h5>

Bitcoin ETF Data Shows Significant Market Sentiment Shift

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