Bitcoin ETFs Secure $91.6M, Halting Four-Day Outflow Run

Bitcoin exchange-traded funds (ETFs) in the United States experienced a notable turnaround, attracting $91.6 million on Wednesday, thereby ending a four-day streak of outflows. This positive development signals renewed investor interest in Bitcoin through these regulated investment vehicles. This increase follows a period of market uncertainty, during which the ETFs saw significant outflows. Among the funds contributing significantly to this rebound were BlackRock’s iShares Bitcoin Trust (IBIT), which attracted $45.3 million. The Fidelity Wise Origin Bitcoin Fund (FBTC) also recorded inflows of $25.6 million. However, the Grayscale Bitcoin Trust (GBTC) continued to see outflows, although they decreased significantly to $30.3 million. This improvement represents an encouraging sign for the cryptocurrency market, suggesting that investors may be returning to Bitcoin as a way to diversify their investment portfolios. Analysts are closely monitoring the performance of Bitcoin ETFs to determine if this trend will continue, as it could have a significant impact on the price of Bitcoin and the future of the broader cryptocurrency market.