Data shows spot bitcoin ETFs received $790 million in inflows despite a 7% bitcoin price drop in June. BlackRock's iShares Bitcoin Trust saw over $1 billion inflows, countering Grayscale Bitcoin Trust outflows.
"Boomers are much better holders than some make them out to be," says Eric Balchunas, questioning the notion that 'hot money' drives spot ETF asset growth.
Positive inflows to spot bitcoin ETFs in June indicate a change from April when there were heavy outflows with a 15% price drop, pointing towards potential industry acceptance by regulators.
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