The post ARK 21Shares Bitcoin ETF Attracts Over $113M Inflows appeared on BitcoinEthereumNews.com.

Key Points: Spot Bitcoin ETFs in the U.S. saw net inflows of $272.3 million on September 26, extending a six-day streak that totalled over $500 million, led by the ARK 21Shares Bitcoin ETF with $113.8 million. While other ETFs like FBTC and IBIT attracted substantial inflows, Grayscale’s GBTC reported a decline of $7.7 million. U.S. spot Bitcoin exchange-traded funds net inflows reached $272.3 million on September 26, marking a run of six consecutive days of inflows of more than $500 million. Read more: ARK 21Shares Bitcoin ETF Chooses Anchorage as New Custodian ARK 21Shares ETF Leads with Record Inflows Amid Market Activity According to data from Farside Investors, the largest inflow came into the ARK 21Shares Bitcoin ETF with $113.8 million coming in. This was followed by Fidelity’s Wise Origin Bitcoin Fund recorded $74 million in inflows, while the BlackRock ETF saw inflows of $50.4 million. On the other side, Grayscale’s GBTC suffered a slight setback with $7.7 million in outflows. While the inflows for the ARK 21Shares Bitcoin ETF have been relatively stable compared to its peers, the trading session on the 26th yielded record inflows, thus underpinning heightened demand for a Bitcoin ETF. Furthermore, Cathie Wood’s ARK Invest has been busy on the market-disclosing notable trades that included buying shares of PayPal and Pinterest, alongside trimming its stake in the ARK 21Shares Bitcoin ETF. Bitcoin Price Moves Up With Federal Rate Cut Accompanying those inflows was a 2.6% gain in the price of Bitcoin over the past 24 hours to $65,090 at the time of writing. It came as the recent decision of the Federal Open Market Committee to cut interest rates by 50 basis points tends to raise demand for riskier assets such as Bitcoin, adding to a bull run. Significantly, the large inflows into spot Bitcoin…

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Filed under: News - @ September 27, 2024 3:19 am