U.S. spot Bitcoin exchange-traded funds (ETFs) posted positive inflows for the fourth straight day on Wednesday, recording a net inflow of $147.37 million.
According to data from SoSoValue, Fidelity’s FBTC led inflows on Wednesday with $57.79 million. It was followed by Franklin Templeton’s spot Bitcoin fund, which attracted $31.66 million, the largest fund inflow since early May.
BlackRock’s IBIT, the largest spot Bitcoin fund by net asset value, reported net inflows of $22.24 million yesterday, while Valkyrie’s BRRR recorded net inflows of $20.68 million.
Invesco and Galaxy Digital’s BTCO also reported inflows of about $9.5 million, while funds from Ark Invest, 21Shares, Bitwise and VanEck had smaller net inflows.
Grayscale’s GBTC, the second-largest Bitcoin ETF, was the only fund to report net outflows of $8.15 million yesterday.
On Wednesday, 11 spot Bitcoin funds traded a total of $1.25 billion. However, volumes in spot Bitcoin ETFs remain significantly lower than the peaks in March and April of this year, when more than $12 billion was traded each day. The ETFs have amassed a total of $15.42 billion in net inflows since January.
Bitcoin Bitcoin
-2.47%
In the last 24 hours, its value has fallen by 2% to $57,623. Bitcoin price page on the block. It has recovered considerably from last week’s decline, but is still well below the $70,000+ range it was at in early June. Crypto investors still face uncertainty in the market regarding the Mt Gox payout distribution and the selling pressure from the German government’s moves on Bitcoin.
Meanwhile, Matt Hougan, chief investment officer at cryptocurrency asset manager Bitwise, said Bitcoin Potentially reaching $100,000 Due to factors such as changing political attitudes towards Bitcoin and the possibility of an interest rate cut by the US Federal Reserve by the end of the year.
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