Bitcoin ETF

Bitcoin

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<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/bitcoin-etfs-record-largest-daily-inflow-since-may/" data-wpel-link="internal">Bitcoin ETFs Record Largest Daily Inflow Since May</a><br></p>
<p style="text-align: justify">Spot <strong>Bitcoin</strong> ETFs in the US recorded their largest daily inflow since May 3 on Wednesday. A net inflow of $302.97 million was recorded. This development stands out as an impressive indicator of activity in the <strong>cryptocurrency</strong> market. Let’s look at the details of these inflows.</p> 
<h2 style="text-align: justify" id="details-of-bitcoin-etf-inflows">Details of Bitcoin ETF Inflows</h2> 
<p style="text-align: justify">According to SoSoValue <a href="https://newslinker.co/" data-wpel-link="exclude">data</a>, <strong>Fidelity’s FBTC</strong> leads with a daily inflow of $131 million. This is followed by Bitwise’s fund with an inflow of $86 million. Other significant contributions include Ark Invest and 21Shares’ ARKB with $39 million, while Bitcoin ETFs managed by Valkyrie, VanEck, Franklin Templeton, WisdomTree, and both Invesco and Galaxy Digital reported single-digit net inflows.</p> 
<p style="text-align: justify">Analyzing the reasons behind this increase, BTC Markets crypto analyst Rachael Lucas notes that <a href="https://finance.coin-turk.com/" data-wpel-link="external" target="_blank" rel="nofollow noreferrer">investment</a> advisors and hedge fund managers see Bitcoin ETFs as a unique hedge offering diversification advantages that traditional asset classes cannot provide. This view is gaining strength as cryptocurrencies are increasingly accepted by institutional <a href="https://finance.coin-turk.com/" data-wpel-link="external" target="_blank" rel="nofollow noreferrer">investors</a>.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="wp-image-351956 size-full aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/05/spot-bitcoin-etf-1.png" alt="" width="724" height="450"></p> 
<p style="text-align: justify">Lucas also emphasized that despite the fluctuations, the total net inflow of $12 billion since the initial entries in January indicates the continued appeal of these financial instruments. This shows that interest in Bitcoin and other cryptocurrencies continues to grow.</p> 
<h2 style="text-align: justify" id="decline-in-trading-volume-noted">Decline in Trading Volume Noted</h2> 
<p style="text-align: justify">On the other hand, it is known that the 11 spot Bitcoin ETFs in the US have seen a cumulative net inflow of $12.15 billion. However, the steady decline in trading volume indicates that the market has somewhat calmed down.</p> 
<p style="text-align: justify">New York-based hedge fund <strong>Millennium Management</strong> announced that as of March 31, it held shares worth $1.94 billion in five spot Bitcoin ETFs. This can be seen as a tangible indicator of institutional investors’ interest in this area.</p> 
<p style="text-align: justify">Lastly, the 6.65% increase in Bitcoin’s price yesterday shows that the <a href="https://en.coin-turk.com/analyst-makes-striking-comment-similar-growth-to-2019-expected-for-the-cryptocurrency-market/" data-wpel-link="internal">cryptocurrency market</a> is still strong and that investor confidence in this area continues. However, it is also important to closely monitor the fluctuations in the market. As of writing, the flagship cryptocurrency Bitcoin is priced at $65,964.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/bitcoin-etfs-record-largest-daily-inflow-since-may/" data-wpel-link="internal">Bitcoin ETFs Record Largest Daily Inflow Since May</a></h5>

Bitcoin ETFs Record Largest Daily Inflow Since May

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