GBTC

For Two Months Money Left the US Bitcoin ETFs.

Last Week It Came Back Hard. The Price Has Not Broken Out.

For most of the past two months, the story in the US spot Bitcoin ETFs was money leaving. Over the last sixty trading days, 27 of 39 flow days were net outflows, and the typical week was about a 268 million dollar exit. On July 13 the funds lost about 478 million dollars in a single session. Then it turned. In the seven days to July 21 the same funds took in about 684 million dollars net, a top-decile week, with fewer than one in ten trailing weeks since late April stronger. The two most recent sessions did most of it, about 178 million dollars on July 20 and about 197 million on July 21, the second of those the third-biggest single inflow day in two months. Kresmion tracks these creation and redemption flows…