Despite the recent bearish signs in BTC, ETH and SOL, Bitcoin ETFs has bounced back with $73 million of AUM net inflows by June 28 implying a stable market with reduced price swings.
But with renewed buying interest, the Bitcoin ETFs bounced back, registering a $73 million net inflow as of June 28th.
Interpreting Bitcoin ETF cash flow characteristics
BlackRock Inc’s iShares Bitcoin Trust (IBIT) dominated the list with $82.4 million in inflows, while Grayscale Bitcoin Trust (GBTC) saw, of these outflows for the week, Second Premium Fund witnessed $27.2 million outflows, while Fidelity’s FBTC fund experienced $25 million outflows.
Comparatively, on June 26th, FBTC and GBTC were the only ETFs to report an inflow of $18.3 million, respectively, alongside VanEck’s HODL with $3.4 million.
All other ETFs had flat inflows, and ARK 21Shares’ ARKB was negative, and an outflow of $4.9 million was recorded.
Peter Schiff Critiques Bitcoin ETF Performance: An Evaluation
When there is a lack of precision on BTC ETFs, financial analysts, and long-time Bitcoin sceptics, Peter Schiff wastes no time bashing them.
Schiff wrote that he recently tweeted something similar to Gold ETFs.
He also did not hesitate to ask various investors reasons for their choice, saying
“Investors who sold gold ETFs at the end of Q1 to buy Bitcoin ETFs are 20% worse off.”
However, responding to his tweet, user Bitcoin Clown confronted Schiff with a question as follows:
Analyzing Schiff’s Bitcoin ETF Critique
This further emphasised that Schiff had no credible evidence to support his criticism of the poor performance of Bitcoin ETFs.
Looking at the U. S. Spot Bitcoin ETFs over the past four days, investor flows have registered in three consecutive positive days.
Altogether, these ETFs have witnessed an inflow of $137.2 million in new investments during this period, which infers that more investors are flocking to invest in these financial products.
On the same topic, there was another user by the name of Lord Crypto who commented on social media and said that
However, some doubts arise as to whether this high investor interest in BTC ETFs will remain unchanged upon the last approval and listing of ETH ETFs for trading.
Further, the uncertainties are amplified when VanEck and 21Shares formally apply for a spot Solana (SOL) ETF.
Effect on the Token’s Price During ETF Filing
On the other hand, Bitcoin, Ethereum, and Solana showed bearish movements with a reduction of 0.88%, As per data from CoinMarketCap, both had increased by around 2.22% in the last 24 hours.
The analysis of the Santiment data indicated a lower average fluctuation of the price, which means that the market volatility of bitcoins is decreasing.
This means that the price is experiencing smaller oscillations and consolidation, which means that market conditions are becoming more predictable and less volatile for investors.
