Bitcoin ETF

Bitcoin

Momentum

Spot

You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/spot-bitcoin-etfs-gain-momentum-in-the-us-market/" data-wpel-link="internal">Spot Bitcoin ETFs Gain Momentum in the US Market</a> 
The US spot <a href="https://coin-turk.com/analist-btcde-bu-fiyat-seviyelerine-isaret-etti-bitcoinin-siradaki-rotasi-neresi-olacak" data-wpel-link="internal">Bitcoin</a> exchange-traded fund (ETF) market is currently experiencing increased activity in anticipation of the launch of spot <a href="https://en.coin-turk.com/analysts-bitcoin-price-prediction-is-the-bull-market-over/" data-wpel-link="internal">Bitcoin</a> ETFs in Hong Kong on April 30. According to data, US ETFs recorded a net outflow of $120 million on April 24, while trading volumes reached the highest level in the last four weeks. 
<h2 style="text-align: justify" id="strong-current-state-of-us-spot-bitcoin-etfs-strong">Current State of US Spot Bitcoin ETFs</h2> 
Data provided by the on-chain analysis firm Santiment shows a significant increase in spot Bitcoin ETF volume, reaching a daily total of $3.62 billion, the highest in the last four weeks. This increase covers various ETFs including GBTC, IBIT, FBTC, ARKB, BTCO, and HODL, indicating a rise in investor interest and activity in the ETF market. 
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter size-full wp-image-344316" src="https://coin-turk.com/wp-content/uploads/2024/04/Spot-Bitcoin-ETF-2.jpeg" alt="" width="2382" height="1743"> 
Despite recent sideways movement in the cryptocurrency market, analysts interpret the strong performance of these ETFs as a positive indicator for the market, demonstrating sustained investor confidence despite market fluctuations. 
However, net inflows to spot Bitcoin ETFs have returned to negative territory, with total net outflows reaching $121 million the previous day. Specifically, Grayscale‘s spot Bitcoin ETF, GBTC, saw the largest net outflow of $130 million, while Fidelity‘s FBTC had the highest net inflow of $5.61 million during the same period. BlackRock‘s ETF, IBIT, despite holding over $15.4 billion in <a href="https://coin-turk.com/fiyat-dusuyor-bitcoin-opsiyon-islemlerinin-hacmi-artiyor" data-wpel-link="internal">BTC</a>, recorded zero net inflows for the first time since its inception. 
<h2 style="text-align: justify" id="strong-hong-kong-s-crypto-etfs-prepare-for-april-30-launch-strong">Hong Kong’s Crypto ETFs Prepare for April 30 Launch</h2> 
Meanwhile, Hong Kong’s first licensed cryptocurrency exchange HashKey Exchange, along with Hong Kong Bosera International and HashKey Capital, announced the successful completion of the initial crypto subscription for their spot Bitcoin ETF and spot <a href="https://coin-turk.com/ethereum-london-hard-forku-artik-resmen-etkinlestirildi-sirada-ne-var" data-wpel-link="internal">Ethereum</a> ETF. From today, fundraising activities for these ETFs can commence ahead of their listing on the Hong Kong Stock Exchange on April 30. 
Bloomberg ETF analyst James Seyffart anticipates potential fee competition in the Hong Kong crypto ETF market, particularly concerning Bitcoin and <a href="https://en.coin-turk.com/will-ethereum-price-continue-to-fall-expert-analysis-and-future-predictions/" data-wpel-link="internal">Ethereum</a> ETFs. In response, Harvest is making a strategic move to attract investors to its ETFs by offering a complete fee waiver and setting the lowest post-waiver fund management fee at 0.3%, amid increasing competition in Hong Kong’s ETF market. 
<h5>The post first appeared on COINTURK NEWS: <a href="https://en.coin-turk.com/spot-bitcoin-etfs-gain-momentum-in-the-us-market/" data-wpel-link="internal">Spot Bitcoin ETFs Gain Momentum in the US Market</a></h5>

Spot Bitcoin ETFs Gain Momentum in the US Market

Table of Contents

COINTURK NEWS

Other articles published on Apr 25, 2024

Kadena Announces Annelise Osborne as Chief Business Officer

Binance Founder Changpeng Zhao’s Defense Calls for Probation

Kinesis Mint becomes the official partner for the House of Mandela

Here are the Bitcoin and Altcoin Portfolios of Giant Investment Companies! Which Altcoin Do They ...

Crypto: Champions are revolutionizing sports and gaming!

5 best crypto altcoins to watch in May 2024

Join our free newsletter for daily crypto updates!