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Bitcoin ETF Inflows Back on Track
Despite a decline in overall cryptocurrency market sentiment, some Bitcoin exchange-traded funds (ETFs) have bucked the trend and seen significant inflows of assets. According to recent data, several major players in the space have experienced increased investment interest.
ProShares’ Bitcoin Strategy ETF (BITO), for instance, has reported $15.4 million worth of new investor money pouring into its coffers, a stark contrast to last week’s decline. Meanwhile, Valkyrie’s Bitcoin ETF (BTF) has also enjoyed increased inflows, with nearly $13.8 million in fresh capital.
Other notable mentions include VanEck’s Bitcoin Strategy ETF (XBTF), which saw around $9.19 million in investments, as well as EVM’s Digital Asset ETF (DAGM), which experienced a modest uptick of almost $5.22 million.
On the other hand, several prominent Bitcoin ETFs have seen redemptions or outflows, with Grayscale’s GBTC experiencing losses totaling nearly $8 million and Bitwise’s Bitcoin ETF (BITB) losing an astonishing $17.4 million in investor appetite.
Bitcoin’s price action has been lackluster lately, with the cryptocurrency trading at around $84,152 at press time after suffering a 2.1% decline over the past day.
As the crypto market navigates this challenging environment, it remains to be seen how these ETFs will continue to perform and whether the recent inflows are indicative of a larger shift in investor sentiment.
Source: https://u.today/bitcoin-etf-inflows-back-on-track
