Data shows that Bitcoin spot exchange-traded funds (ETFs) have seen their 14-day net flow trend turn positive, ending a period of sustained outflows.
Bitcoin Spot ETF Net Flow Has Been Rising Recently
As highlighted by on-chain analytics firm Glassnode in a new post, the 14-day net flow trend for Bitcoin spot ETFs has climbed higher recently. Spot ETFs are investment vehicles that allow investors to gain indirect exposure to an asset’s price movements. In the United States, the Securities and Exchange Commission (SEC) approved spot Bitcoin ETFs in January 2024, meaning these funds have now been active for over two years.
Since spot ETFs trade on traditional markets, they provide an off-ramp into Bitcoin. When an investor buys into a fund, the fund purchases the actual Bitcoin and holds it in custody. This convenience has made ETFs a popular investment choice for more traditional investors, such as institutions.
The chart shared by Glassnode shows the 14-day net flow trend for Bitcoin spot ETFs over their history. The trend has sharply risen into positive territory recently. Glassnode defines “net flow” as the 30-day change in the combined holdings of U.S.-based funds.
Earlier, the net flow trend had turned negative, indicating that outflows were dominating and creating consistent selling pressure from ETF users. However, the recent surge suggests the trend has flipped. The chart shows the indicator continuing to grow as Bitcoin’s price rallied above $70,000.
“Institutional demand remains tentative, but early re-accumulation signs are emerging,” noted Glassnode. It remains to be seen whether spot ETFs will continue on this trajectory or if another cooldown will occur.
Other Market Developments
In other news, the Binance Bitcoin Net Taker Volume has recently spiked, as highlighted by CryptoQuant community analyst Maartunn. This indicator tracks the difference between taker buy and taker sell volumes on an exchange—in this case, Binance.
The 7-hour moving average of the Binance Bitcoin Net Taker Volume shows a notable positive spike of nearly $100 million, suggesting taker buy volume has significantly outpaced taker sell volume. “The current pump is mirroring the moves from November 7 and November 25,” said Maartunn.
BTC Price
At the time of writing, Bitcoin is trading around $71,000, up more than 5% over the past week.
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