Bitcoin · Standard Chartered · Strategy · The Block
Bitcoin, ether ETFs end 13- and 17-day outflow streaks as traders rotate into equity perps ahead of NFP: analysts
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Spot bitcoin and ether exchange-traded funds broke one of their longest outflow runs since launch on June 4, even as bitcoin held below $63,000 and most digital assets remained under pressure heading into Friday's U.S. jobs report.
Key facts
- Spot XRP ETFs added $3.84 million and spot HYPE ETFs drew $12.15 million, while spot SOL ETFs saw a $278,500 net outflow
- Institutional derivatives analytics firm Block Scholes found that BTC and ETH perpetual futures volumes on Hyperliquid had fallen to multi-quarter lows, roughly $2 billion for BTC and $600 million
- The ETF reversal comes a day after Standard Chartered global head of digital assets research, Geoffrey Kendrick, told clients the bottom was "almost in," calling the $62,000-to-$64,000 range
- Bitcoin is trading near $62,300 on Friday, per The Block's prices page, with ether at $1,660
Summary
U.S. spot bitcoin (BTC) ETFs recorded $3.05 million in net inflows, their first positive day after 13 consecutive sessions of outflows. Spot XRP ETFs added $3.84 million and spot HYPE ETFs drew $12.15 million, while spot SOL ETFs saw a $278,500 net outflow. Bitcoin is trading near $62,300 on Friday, per The Block's prices page, with ether at $1,660. The ETF reversal comes a day after Standard Chartered global head of digital assets research, Geoffrey Kendrick, told clients the bottom was "almost in," calling the $62,000-to-$64,000 range "the buying zone they all wanted.