Exchange-traded funds (ETFs) that track the spot price of Bitcoin (BTC) have begun to stage a tentative recovery after experiencing large outflows in June.
About a dozen U.S.-listed spot Bitcoin ETFs attracted $75.67 million U.S. of new investor capital for the week ended June 17.
That follows $197.40 million U.S. of net inflows during the previous trading week, according to data from SoSoValue.
Over the past two weeks, Bitcoin ETFs have drawn in $273 million U.S. in fresh capital.
That’s an encouraging sign after the ETFs suffered eight consecutive weeks of outflows that saw investors pull more than $8 billion U.S. from the BTC funds.
Analysts see the inflows to Bitcoin ETFs as encouraging, although many are urging caution given that the capital allocations are relatively small compared to past investments in the funds.
The ETFs let investors gain exposure to Bitcoin and its price movements without having to own the cryptocurrency outright.
Because of this fact, spot Bitcoin ETFs have proven popular with investors since they launched in early 2024.
However, the ETFs experienced big outflows in May and of June this year as institutional investors began to pull money from the funds.
Institutions such as hedge funds and pensions appeared to sour on the Bitcoin ETFs as the price of BTC steadily fell as low as $58,000 U.S. from $126,000 U.S. last October.
BTC is trading at $64,625 U.S. on July 20.
