U.S. spot Bitcoin exchange-traded funds (ETFs) recorded net inflows of $21.52 million on Wednesday, continuing the positive streak that started on Tuesday.
Fidelity’s FBTC saw its largest net inflow of the day, valued at $19 million. data From SoSoValue. Grayscale’s GBTC recorded net inflows of $4 million for the first time since June 5. VanEck also recorded $3 million worth of inflows on Wednesday.
Meanwhile, Ark Invest and 21Shares’ ARKB was the only company on the day to record net outflows worth $5 million. The remaining fund flows from BlackRock, Bitwise, Valkyrie, etc. were zero.
The spot Bitcoin ETF has recorded a cumulative net inflow of $14.44 billion since its launch in January.
Ethereum funding imminent
meantime, Reuters reported The U.S. Securities and Exchange Commission could approve a spot Ethereum ETF as early as next Thursday or as early as July 4, a person familiar with the matter said Wednesday, citing unnamed sources. Bloomberg ETF chief analyst Eric Balchunas had previously predicted July 2 as a possible launch date.
SEC Chair Gary Gensler said: It did not mention an exact time frame, but said earlier this week that the launch process for its spot ether ETF was “progressing smoothly.” The regulator gave preliminary approval to the spot Ether ETF last month and is currently reviewing the issuer’s revised registration statement.
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About the author
Danny Park is The Block’s East Asia reporter, writing about topics including Web3 development and cryptocurrency regulation in the region. He previously worked as a reporter for Forkast.News, where he actively covered the fall of Terra-Luna and FTX. Based in Seoul, Danny previously produced written and video content for media companies in Korea, Hong Kong and China. He holds a Bachelor’s degree in Journalism and Business Marketing from the University of Hong Kong.