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Home»ADOPTION NEWS»US Spot Bitcoin ETF Raises $39 Million, BTC Around $58,000
ADOPTION NEWS

US Spot Bitcoin ETF Raises $39 Million, BTC Around $58,000

By Crypto FlexsSeptember 13, 20243 Mins Read
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US Spot Bitcoin ETF Raises  Million, BTC Around ,000
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U.S. spot bitcoin exchange-traded funds (ETFs) recorded net inflows of $39.02 million on Thursday, following negative inflows the previous day.

According to SoSoValue dataThe largest net inflow came from Ark and 21Shares’ ARKB, which brought in $18.34 million into the fund yesterday. Fidelity’s FBTC recorded net inflows of $11.47 million, while Grayscale’s Bitcoin Mini Trust attracted $5.18 million.

VanEck’s HODL saw net inflows of $4.95 million, Franklin Templeton’s Bitcoin fund saw inflows of $3.38 million, and Bitwise’s BITB also saw net inflows of $2.22 million.

Grayscale’s GBTC was the only spot Bitcoin ETF to see outflows, with 6.51 million out of the fund. The other five Bitcoin ETFs, including BlackRock’s IBIT, saw no inflows on Thursday. IBIT, the largest spot Bitcoin ETF by net assets, has seen no net inflows since August 27.

The 12 Bitcoin ETFs saw daily volumes drop to $896.92 million on Thursday, down from $1.27 billion the previous day. Since their launch in January, Bitcoin funds have seen net inflows of $170.3 billion.

Grayscale’s Ether ETF Leads Outflows

US spot Ethereum ETFs recorded their second consecutive day of net outflows, with $20.14 million in net outflows. The entire daily net outflow came from Grayscale’s ETHE, while the other eight ETH funds saw no inflows on Thursday.

The total daily volume of the Ether ETF yesterday was $106.14 million, up from $126.22 million on Wednesday. The cumulative net outflow was $582.74 million.

Meanwhile, the Bitcoin price remains at the $58,000 level. The world’s largest cryptocurrency is down 0.6%, currently trading at $57,916. Bitcoin fell below $53,000 last Friday after the U.S. released weak nonfarm payrolls data, but it has since rebounded after the election debate between Kamala Harris and Donald Trump and the release of the Consumer Price Data.

Investors now await next week’s Federal Open Market Committee meeting, which will be held by CME Group. FedWatch Tools There is a 57% chance that the Fed will cut rates by 25 basis points, and a 43% chance that it will cut rates by 50 basis points.


Disclaimer: The Block is an independent media outlet providing news, research and data. As of November 2023, Foresight Ventures is the largest investor in The Block. Foresight Ventures invests in other companies in the cryptocurrency space. Cryptocurrency exchange Bitget is an anchor LP of Foresight Ventures. The Block continues to operate independently to provide objective, impactful and timely information on the cryptocurrency industry. Below are the current financial disclosures.

© 2024 The Block. All rights reserved. This article is provided for informational purposes only. It is not provided or intended to be legal, tax, investment, financial or other advice.

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