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BTC 
ETH The recovery of Bitcoin ETF sparks optimism
There has been an exciting turnaround in the financial sector. The weekly inflow of funds from Bitcoin exchange-traded funds (ETFs) in the United States reached US$197.4 million, breaking the eight-week trend of net outflows, indicating that interest in the cryptocurrency market may be recovering.
Who is leading?
BlackRock's iShares Bitcoin Trust dominated with $291.9 million in capital inflows. As the world's leading investment management company, BlackRock's operations often affect market dynamics. However, other funds such as Gray Scale Bitcoin Trust (GBTC), Fidelity's FBTC and ARK21 Shares 'ARKB have experienced significant outflows, suggesting that current enthusiasm is still concentrated on a few specific assets rather than the entire market.
How important is this recovery?
The $197.4 million inflow accounted for only 2.4% of the $8.26 billion outflow since May 11, highlighting that while the recovery is noteworthy, it is still in its early stages. Analysts warned: "Despite BlackRock's strong momentum, the broader fund base has only recovered about 2.4% of the previous eight weeks of outflows." Inflows were strong at the beginning of the week, but then volatile daily. Trading was active Monday, with net inflows reaching $265.7 million, but quickly shrank and even net outflows occurred in subsequent days. However, inflows recovered somewhat on Friday, reaching $90.4 million, ensuring positive results throughout the week.
Ethereum ETF presents a similar pattern
Similar to the Bitcoin ETF, the U.S. -listed spot Ethereum ETF also reversed the outflow trend, attracting $84.4 million in new funds. However, considering previous losses of approximately $1.2 billion, the recovery remains limited. Bitcoin and Ethereum spot ETFs combined inflows this week amounted to $281.8 million.
Important implications of this week's data include: Bitcoin ETFs have not yet established stable demand, and mid-week trading fluctuates significantly; weekly trading volume is sluggish, reflecting cautious investor sentiment; despite capital inflows, year-to-date The net outflow trend is still significant. Upcoming events, such as the U.S. Consumer Price Index (CPI) report, could further affect market sentiment. If the data is good, it will increase risk appetite and promote continued capital inflows; while poor data may inhibit investment in cryptocurrency-related ETFs. As the financial community waits for these developments, the future for Bitcoin and Ethereum ETFs remains uncertain, but it is also exciting.
