Spot Bitcoin ETFs Record Largest Single-Day Inflow Since Early June
The post Spot Bitcoin ETFs Record Largest Single-Day Inflow Since Early June appeared on BitcoinEthereumNews.com.
The market performance of the spot Bitcoin ETFs (exchange-traded funds) in the United States has been impressive over the last few weeks. Continuing their excellent streak, the crypto investment products closed the previous trading week with their best single-day performance in almost four months. The positive investor sentiment surrounding the spot ETFs seems to have also bubbled into the Bitcoin and the general crypto market, which has recovered well from an early price slump in September. US Bitcoin ETFs Post Nearly $500 Million In A Single Day On Friday, September 27, the US spot Bitcoin ETF market registered a total net inflow of $494.27 million, the highest value since the $886 million capital influx on June 4. This was another strong daily performance by the crypto-based products, which posted over $365 million in net inflows barely 24 hours before. According to data from SoSoValue, Ark Invest and 21Shares’ ARKB led the day with an inflow of $203 million, while Fidelity’s FBTC followed in second place with a $124 million influx. In a seeming resurgence, BlackRock’s IBIT came in third with a net inflow of over $110 million. Source: SoSoValue Meanwhile, Grayscale Bitcoin Trust (GBTC) recorded a rare positive day, with $26.15 million flowing into the product. Unsurprisingly, this value represents the fund’s highest capital influx since mid-May, reflecting the level of redemption it has experienced since the spot Bitcoin ETFs launched. As a result of Friday’s performance, the total weekly net inflows for the BTC exchange-traded funds rose to a remarkable $1.11 billion. This billion-dollar showing makes it the third consecutive week in which the US-based spot Bitcoin ETFs has recorded a cumulative weekly net inflow. Spot Ethereum ETFs Record Second Positive Week Ever The outstanding performance of the Spot Bitcoin ETFs seems to have inspired its Ethereum counterpart, as…
Filed under: News - @ September 29, 2024 9:32 am