Bitcoin ETFs snap six-day outflow streak with $240M inflows

United States spot Bitcoin exchange-traded funds (ETFs) recorded a $239.9 million net inflow on Thursday, ending a six-day slump of outflows draining almost $1.4 billion from the market. 

ETFs are key driver for liquidity in crypto

On Thursday, crypto market maker Wintermute assigned ETFs as one of the three key pillars of liquidity for the crypto sector. 

In a blog post, Wintermute said that liquidity remains the key driving force behind every crypto cycle, arguing that it has a greater impact than technological developments.

Wintermute said that stablecoins, ETFs and digital asset treasuries were the three major pillars for crypto liquidity, and pointed out that liquidity inflows in all three sectors have reached a plateau. 

A recent survey from brokerage giant Schwab Asset Management revealed that 52% of respondents plan to invest in ETFs, while 45% expressed interest in crypto-linked ETFs.