Key Points
- Bitcoin ETFs recorded $101 million in inflows on June 12, after two days of outflows.
- BTC is currently trading above $67,000.
According to the latest reports coming from SoSoValue, the total net inflows recorded yesterday, June 12 were $101 million. The day marked a reversal following the two previous outflow days.
Here are the inflows that the US crypto products recorded yesterday:
- BlackRock's Bitcoin ETF, IBIT, recorded $16 million in inflows.
- Fidelity's Bitcoin ETF, FBTC, saw $51 million in inflows.
- Ark Invest and 21Shares' Bitcoin ETF, ARKB, recorded $9 million in inflows.
- Bitwise's Bitcoin ETF, BITB, recorded $15 million in inflows.
- VanEck's Bitcoin ETF, HODL, saw $12 million in inflows.
Grayscale's Bitcoin ETF, GBTC, and the other BTC ETFs did not see any inflows or outflows the other day.
The total net asset value of the Bitcoin ETFs was $60 billion, SoSoValue data reveals.
The reversal trend in Bitcoin ETFs comes following two days in which the crypto products saw outflows ahead of important economic data that was set to be released in the US.
The two outflow days, June 10 and 11 came following 19 consecutive days in which the crypto products recorded net inflows.
June 4th was the day in which the crypto products reached record inflows since March - more than $886 million.
Bitcoin is trading above $67k
At the moment of writing this article, BTC is trading above $67,000.
This week has seen huge price volatility for the coin ahead of important US data and an unexpected miner capitulation event.
June 12 marked the day when the CPI report came out showing eased inflation. More than that, following the FOMC meeting, the Fed decided to leave the interest rates unchanged at 5.25% to 5.50%.
According to official notes, the collective forecast for interest rates now implies only one quarter-point cut by the end of 2024, this being a significant shift from earlier this year.
In March, the Fed penciled a total of three quarter-point cuts.
