1 min readStrong inflows for Bitcoin ETFs, but market appears cautious
Last week, the US Spot Bitcoin ETFs experienced a notable shift. For the first time since their inception in January, there were net outflows, totaling around $850 million. This downturn was brief, as the first two days of this week have already shown a resurgence, with inflows exceeding $400 million.
This activity aligns closely with Bitcoin's recent range-bound price action. The market seems cautious, particularly in light of the upcoming expiration of $9 billion worth of Bitcoin options on Deribit on Friday.
In other news, Coinbase has lost most of their motion to dismiss the ongoing SEC lawsuit regarding their operation as an unregistered broker, exchange and clearing house, meaning there will in fact likely be arguments heard in front of a jury at a later date.
On a positive note, the number of validators securing Ethereum has exceeded 1 million, a testament to the ongoing demand to stake Ethereum and earn additional yield.
