The post Bitcoin ETF Inflows Surged Two-Week High BTC Soared $66,000 appeared on BitcoinEthereumNews.com.

Spot Bitcoin exchange-traded fund (ETF) inflows have surged to a two-week high as the underlying asset pumped 7% on key US inflation data.  Inflows for spot Bitcoin ETFs in the United States soared to $303 million on May 15 amid a big jump in BTC prices. It is the highest inflow since May 3 as institutional inventors pivoted back to bullish in the wake of the US Consumer Price Index (CPI) data on May 15 which met expectations. Fidelity led the pack with its FBTC fund seeing $131 million in inflows for the day, its highest inflow since March 26. Bitwise’s BITB fund also had a solid day with an inflow of $86 million, a figure not beaten since March 4. BlackRock’s IBIT fund saw its third consecutive trading day of zero flows, but experts have previously explained that this is perfectly normal for a fund of this nature. Bitcoin Spot ETFs Surge See Also: Will Ethereum Be Declared A Security By The SEC Next Week? Even Grayscale’s GBTC saw an inflow with $27 million returning to its flagship BTC fund following four months of outflows. Bitcoin ETF Flow (US$ million) – 2024-05-15 TOTAL NET FLOW: 303(Provisional data) IBIT: 0FBTC: 131.3BITB: 86.3ARKB: 38.6BTCO: 4.6EZBC: 1.9BRRR: 3.7HODL: 7.5BTCW: 2.1GBTC: 27DEFI: 0 For all the data & disclaimers visit:https://t.co/4ISlrCgZdk — Farside Investors (@FarsideUK) May 16, 2024 Additionally, the latest US Security and Exchange Commission filings show that one of the world’s largest hedge funds, Millennium Management, holds a whopping $2 billion spot Bitcoin ETF portfolio. This was commented on by prominent ETF analysts, with James Seyffart quipping, “It’s only retail traders buying the Bitcoin ETFs.” “It’s only retail traders buying the #bitcoin ETFs” https://t.co/9KpVP0Z6pT — James Seyffart (@JSeyff) May 15, 2024 The portfolio comprises $844.2 million in BlackRock’s IBIT, $806.7 million in…

---

Filed under: News - @ May 17, 2024 11:16 am