Bitcoin ETFs Break 8-Week Outflow Streak
US Bitcoin ETFs record $197 million in net inflows.
1Net Inflows for Bitcoin ETFs
US-listed spot Bitcoin ETFs recorded $197.4 million in net inflows last week, ending an eight-week outflow streak dating back to May. BlackRock's ETF accounted for the majority of these inflows.
2Recovery in Institutional Demand
The end of the outflow streak suggests institutional demand for Bitcoin is recovering after two months of selling pressure. However, analysts caution that this does not yet indicate a trend.
3Regulation Expectations
Jeff Yew, CEO of Monochrome Asset Management, noted that institutional confidence is growing due to the potential passage of the CLARITY Act in the US next month. This could signal reduced regulatory uncertainty, a key factor for long-term capital allocators.
4Bitcoin's Seasonal Behavior
Markus Thielen, CEO of 10x Research, highlighted Bitcoin's pattern of performing better in the first half of the month and consolidating in the latter half. With ETF flows yet to pick up significantly, challenges may persist in the near term.
5Ether ETFs Also Recover
US-listed spot Ether ETFs also broke their eight-week outflow streak, with $84.42 million in net inflows last week, led by BlackRock and Fidelity's Ether funds. However, this pales in comparison to the $1.2 billion in outflows since May.
6Bitcoin's Future Outlook
Analysts believe Bitcoin may be entering the latter stages of the bear market. However, some predict further downside, particularly around October. Bitcoin's future will depend on regulatory developments and institutional demand.
Original article: Cointelegraph.com News — Bitcoin ETF'leri 8 Haftalık Çıkış Serisini Kırdı