Bitcoin ETF

Bitcoin

BlackRock

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/blackrock-leads-bitcoin-etf-inflows/" data-wpel-link="internal">BlackRock Leads Bitcoin ETF Inflows</a><br></p>
<p class="p1" style="text-align: justify">BlackRock’s spot <strong>Bitcoin</strong> <a href="https://finance.coin-turk.com/" data-wpel-link="exclude">investment</a> fund accounted for 95% of the total inflows into U.S. spot Bitcoin ETF funds on May 21, with a net inflow exceeding $300 million. According to preliminary <a href="https://newslinker.co/category/ai/" target="_blank" rel="noopener" data-wpel-link="exclude">data</a> from Farside Investors, BlackRock’s iShares Bitcoin Trust (IBIT) reported a significant inflow of $290 million on May 21. The net inflow for all eleven ETF issuers was $305.7 million.</p> 
<h2 class="p1" style="text-align: justify" id="what-s-happening-in-the-etf-sector">What’s Happening in the ETF Sector?</h2> 
<p class="p1" style="text-align: justify">This development marks the highest inflow into the BlackRock ETF fund since April 5, reversing a six-week trend of zero or very low inflows. The recent figure also surpasses the total inflow of the fund over the past 21 trading days. Overall, more than $1 billion returned to spot Bitcoin ETF funds amid Bitcoin’s volatile rise over the past four trading days.</p> 
<p class="p1" style="text-align: justify"><img loading="lazy" loading="lazy" decoding="async" class="aligncenter wp-image-354307 size-full" src="https://coin-turk.com/wp-content/uploads/2024/05/farside.jpg" alt="" width="737" height="740"></p> 
<p class="p1" style="text-align: justify">According to Farside Investors, with the latest daily figures added, the BlackRock fund has reached a total inflow of $16 billion since its launch, although the product’s official website shows $19 billion in assets under management. This brings BlackRock’s IBIT very close to the sector leader Grayscale’s GBTC spot ETF fund, which has $20 billion in AUM, according to its official website.</p> 
<p class="p1" style="text-align: justify">Meanwhile, GBTC recorded zero inflows on May 21, marking the fifth consecutive day without outflows. The fund saw an inflow of $72.5 billion over the past five days, reversing a four-month trend of consistent outflows.</p> 
<h2 class="p1" style="text-align: justify" id="notable-details">Notable Details</h2> 
<p class="p1" style="text-align: justify">There was also a slight decline in the large inflow figure recorded on May 21. VanEck Bitcoin Trust ETF (HODL) saw an outflow of $5.9 million, and Bitwise Bitcoin ETF (BITB) saw an outflow of $4.2 million. Fidelity Wise Origin Bitcoin Fund (FBTC) saw a small inflow of $25.8 million; the rest were zero.</p> 
<p class="p1" style="text-align: justify">The Bitcoin ETF enthusiasm was driven by the increase in Bitcoin’s price, which gained 12% in the past week. Bitcoin reached a six-week high of $71,600 on May 21 but traded at $69,444 during early trading on May 22, falling below the $70,000 level.</p> 
<p class="p1" style="text-align: justify">The idea of the Securities and Exchange Commission potentially approving spot <a href="https://en.coin-turk.com/ethereum-faces-regulatory-hurdles-on-its-path-to-4000/" data-wpel-link="internal">Ethereum</a> ETF funds in the U.S. also invigorated the crypto markets this week.</p> 
<ul class="Summary"> 
 <li>BlackRock’s Bitcoin ETF saw significant inflows on May 21.</li> 
 <li>Bitcoin’s price increase drove ETF enthusiasm.</li> 
 <li>Potential SEC approval of Ethereum ETFs boosted crypto markets.</li> 
</ul> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/blackrock-leads-bitcoin-etf-inflows/" data-wpel-link="internal">BlackRock Leads Bitcoin ETF Inflows</a></h5>

BlackRock Leads Bitcoin ETF Inflows

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