ASX Faces Legal Action Over Failed Blockchain CHESS Project 
Anthropic Signs $9.1B AI Data Center Deal With Riot Platforms 
Hanwha Offers Up to $1.2 Billion for Austal US Business 
Nvidia Seen Beating Q2 Targets as Vera Rubin Cycle Begins 
Western Digital Q4 Earnings Beat Estimates as FY2027 Outlook Tops Expectations 
Meta Ordered to Pay $567M Over Child Safety Violations in New Mexico 
Nvidia Secures $500 Billion AI Infrastructure Push With Wall Street Giants 
FxWirePro- Major Crypto levels and bias summary 
SK Hynix, Samsung Lead Asian Chip Stock Selloff After Sandisk, Western Digital Outlook 
Natura Q2 Profit Plunges 92% as Financial Expenses Weigh on Earnings 
OpenAI Executive Brad Lightcap to Leave for New AI Venture 
After weeks of significant outflows, Bitcoin ETFs saw a strong $28.6 million inflow, sparking optimism. Bitwise CIO Matt Hougan highlighted a boom in advisor participation, calling it the driving force behind the recovery.
Bitcoin ETFs Rebound with $28.6 Million Surge
On Monday, $28.6 million was invested into spot Bitcoin ETFs, with $22.0 billion going into Bitwise's BITB and $28.6 million going into Fidelity's FBTC, according to data from Farside Investors. However, the GBTC of Grayscale saw outflows of $22.8 million and the IBIT of BlackRock of $9.1 million.
After a deluge of outflows over the past two weeks, yesterday's inflows bring tremendous comfort, according to Coingape. With Bitcoin's market sentiment plummeting, some in the cryptocurrency business have also begun to claim that BTC ETFs have begun to lose ground.
Analysts Defend Bitcoin ETFs Despite Market Worries
Experts in the field have spoken out in favor of Bitcoin exchange-traded funds. The $1.2 billion outflows pale in contrast to the $46 billion AUM of the ETFs, according to Bloomberg analyst Eric Balchunas, who maintains his positive stance on the BTC ETFs.
He downplayed the significance of the outflows, saying that they are run for the course and not cause for serious alarm. It should be noted that these ETFs have received a total of $16.92 billion in net inflows since their introduction in January, notwithstanding these outflows.
Bitwise CIO Counters Claims of Low ETF Adoption
Last week, Bianco Research's Jim Bianco voiced his belief that investment wealth advisers are not investing in Bitcoin ETFs and that their adoption is relatively "small," which devalues the product. Adding to this, Bitwise CIO Matt Hougan refuted the claim and said that investment advisors are embracing Bitcoin ETFs at a rate never seen before.
Hougan mentioned that BlackRock's IBIT ETF had received $1.45 billion in net flows from investment advisors. In terms of growth rate, it ranks as the second-fastest ETF introduced this year when all other Bitcoin ETFs are excluded. Hougan also brought up the KLMT ETF as an example; that fund had a $2 billion seed from a single investor but hasn't gotten any help from financial advisors.
The chief information officer of Bitwise stressed that financial managers may only make up a small percentage of Bitcoin ETF purchasers, but that their use of these products is unparalleled.
