Bitcoin ETF Regains Momentum With Fidelity’s FBTC Leading, BTC Recovery Ahead?
The post Bitcoin ETF Regains Momentum With Fidelity’s FBTC Leading, BTC Recovery Ahead? appeared on BitcoinEthereumNews.com.
The US Spot Bitcoin ETF regained momentum on Thursday, December 26, as evidenced by the change in fund flows into the investment instrument. Fidelity’s FBTC led the inflow on Thursday, with Ark’s ARKB and BlackRock’s IBIT supporting the trend. Notably, this change in fund flows comes after the investment instruments recorded massive outflow since December 19, which has sparked concerns in the broader crypto market. Bitcoin ETF Inflow Regains Momentum The US Spot Bitcoin ETF has recorded a significant outflux recently, with BTC witnessing a sharp decline. This robust outflux also appeared to have weighed on the investors’ sentiment, which has further triggered the volatility in the market. However, the sentiment appeared to have changed recently, as evidenced by the recent fund flow trend. According to Farside Investors data, the overall US Spot BTC ETFs recorded an influx of $475.2 million on Thursday. Fidelity’s FBTC led the influx trend with a $254.4 million inflow on December 26, reflecting the regaining confidence of the investors. Simultaneously, ARK’s ARKB and BlackRock’s IBIT noted inflows of $186.9 million and $56.6 million, respectively. Source: Farside Investors Meanwhile, this change in trend comes after the investment instruments went through a gloomy phase recently. For context, the BTC ETFs recorded an outflow of $1.51 billion from December 19 through December 24, which has weighed on the investors’ sentiment, especially after the robust inflow over the past few weeks. Considering that, it appears that the institutional interest in the digital assets space is once again soaring. For context, the US Spot Ethereum ETF also recorded an inflow of $117.2 million yesterday, with Fidelity’s FETH leading with an $83 million influx. Source: Farside Investors BTC Recovery Ahead? Bitcoin price today was down about 3% and exchanged hands at $94,975 despite the positive US Spot Bitcoin ETF inflow. Its…
Filed under: News - @ December 27, 2024 8:19 am