The U.S.-based spot Bitcoin exchange-traded fund (ETF) has recorded inflows for the seventh consecutive trading day, with Friday’s inflows hitting the highest daily inflows since early June and the highest in nearly four months.
In a row, ETFs reached a two-month high in terms of total asset value, with 12 funds currently holding $61.21 billion worth of Bitcoin.
On Friday, the fund saw total daily net inflows of $494.27 million, driven by $203.1 million inflows into Ark and 21Shares’ ARKB fund, according to SoSoValue data. Fidelity’s FBTC recorded the second-highest inflows at $123.6 million, followed by BlackRock’s IBIT fund at $110.8 million on Friday.
Additionally, Grayscale’s GBTC inflowed at $26.1 million, Bitwise’s BITB at $12.9 million, VanEck’s HODL at $11.1 million, Invesco’s BTCO at $3.3 million, and Valkyrie’s BRRR at about $3.3 million. The remaining four funds did not experience significant inflows or outflows.
Total daily inflows were $494.27 million, the highest daily inflows since June 4, when fund inflows hit $886.75 million. The fund’s total net asset value was $61.21 billion, the highest since July 29, when total net asset value hit $61.73 billion, according to SoSoValue data.
The U.S. Securities and Exchange Commission recently approved BlackRock’s proposal to list and trade spot options. Bitcoin BTC
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The ETF led some analysts as follows: Others have predicted a “flood” of new paper, although others have turned a critical eye to the potential impact of more “paper” Bitcoin on demand for the underlying asset.
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