The post US Bitcoin ETFs Saw the Sixth Consecutive Day of Inflows appeared on BitcoinEthereumNews.com.

US spot Bitcoin exchange-traded funds recorded their sixth straight day of net inflows on August 23rd, totalling around $65 million. The sustained run of positive flows highlights the growing institutional demand for regulated Bitcoin exposure. BlackRock’s iShares Bitcoin Trust (IBIT) let the days inflow with $75.5 million. Launched in April 2024, IBIT has quickly become the biggest spot Bitcoin ETF, with over $20 billion in assets under management. Fidelity’s Wise Origin Bitcoin Trust took in another $9.2 million, while the ARK 21Shares Bitcoin ETF saw inflows of $7.8 million. Smaller spot bitcoin ETFs like VanEck’s and WisdomTree’s also added several million each. However, Grayscale’s Bitcoin Trust continued to bleed funds with $28.4 million in outflows as investors migrated to cheaper options. GBTC has lost over $20 billion since converting to an ETF structure in 2024. With assets under management crossing $20 billion, BlackRock’s IBIT has attracted major investments from Morgan Stanley, Goldman Sachs, and pension funds. Its rise has cemented Bitcoin ETFs’ spot as a gateway for institutional capital. Overall, US spot bitcoin ETFs have seen a cumulative $250 million enter the products this week amid a resurgent Bitcoin market. The uninterrupted inflow streak signals strengthening institutional conviction after months of tepid interest. Source: https://bitcoinmagazine.com/business/us-bitcoin-etfs-saw-the-sixth-consecutive-day-of-inflows

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Filed under: News - @ August 23, 2024 11:20 am