Galaxy

Bitcoin

<h2 id="key-points">Key Points</h2> 
<ul> 
 <li>Bitcoin ETFs saw inflows of $28 million yesterday.</li> 
 <li>Bitcoin is trading above $67k.</li> 
</ul> 
<p>According to the latest data from <a href="https://sosovalue.xyz/assets/etf/us-btc-spot" rel="nofollow noopener" target="_blank">SoSoValue</a>, the total net inflows recorded by Bitcoin ETFs was over $28 million on May 29. This was the 12th consecutive day in which the crypto products saw inflows.</p> 
<p>Here are the inflows and outflows that have been recorded the other day by Bitcoin ETFs:</p> 
<ul> 
 <li>BlackRock’s Bitcoin ETF, IBIT, recorded inflows of $25 million.</li> 
 <li>Fidelity’s Bitcoin ETF, FBTC saw inflows of $1.8 million.</li> 
 <li>Ark Invest and 21Shares’ Bitcoin ETF, ARKB saw inflows of $4 million.</li> 
 <li>Bitwise’s Bitcoin ETF, BITB, recorded inflows of $11 million.</li> 
 <li>Invesco and Galaxy Digital’s Bitcoin ETF, BTCO, saw inflows of $1 million.</li> 
 <li>Grayscale’s Bitcoin ETF, GBTC recorded outflows of $31 million.</li> 
</ul> 
<p>The total net asset value of the Bitcoin ETFs was $57.6 billion, according to the same data.</p> 
<figure id="attachment_43658" aria-describedby="caption-attachment-43658" style="width: 100%" class="wp-caption alignnone">
 <a href="https://crypto.ro/en/wp-content/uploads/2024/05/30-mai-etf.png"><img loading="lazy" decoding="async" class="wp-image-43658 size-full" src="https://crypto.ro/en/wp-content/uploads/2024/05/30-mai-etf.png" alt="SoSoValue" width="1639" height="699" title="Bitcoin ETFs Recorded $28M Inflows, BTC Above $67k 10" srcset="https://crypto.ro/en/wp-content/uploads/2024/05/30-mai-etf.png 1200w, https://crypto.ro/en/wp-content/uploads/2024/05/30-mai-etf-300x128.png 300w, https://crypto.ro/en/wp-content/uploads/2024/05/30-mai-etf-1024x437.png 1024w, https://crypto.ro/en/wp-content/uploads/2024/05/30-mai-etf-768x328.png 768w, https://crypto.ro/en/wp-content/uploads/2024/05/30-mai-etf-750x320.png 750w, https://crypto.ro/en/wp-content/uploads/2024/05/30-mai-etf-1140x486.png 1140w" sizes="(max-width: 1639px) 100vw, 1639px"></a>
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  SoSoValue
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<p>Of the Bitcoin ETFs, BlackRock’s BTC ETF, IBIT, is now the<a href="https://crypto.ro/en/news/blackrocks-20b-bitcoin-etf-ibit-becomes-worlds-largest-btc-fund/"> world’s largest</a> BTC fund, amassing close to $20 billion.</p> 
<p>On May 29, the crypto fund was <a href="https://sosovalue.xyz/bigChart/Etf_NASDAQ_IBIT?title=BlackRock%20(IBIT)&amp;coin=BTC" rel="nofollow noopener" target="_blank">holding</a> $19.48 in net assets&nbsp;since the US SEC approved the listing of the crypto products at the beginning of 2024.</p> 
<p>IBIT held $19.68 billion in BTC on May 28, surpassing the $19.65&nbsp;<a href="https://sosovalue.xyz/bigChart/Etf_NYSE_GBTC?title=Grayscale%20Investments(GBTC)&amp;coin=BTC" target="_blank" rel="nofollow noopener">Grayscale</a>&nbsp;Bitcoin Trust, according to official data.</p> 
<h2 id="btc-trades-above-67k">BTC trades above $67k</h2> 
<p>At the moment of writing this article, BTC is trading above $67,000.</p> 
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<p>Bitcoin has reportedly spent 42 days in the boredom zone, as pseudonymous crypto trader CryptoCon said in a <a href="https://x.com/CryptoCon_/status/1795865980620402782" rel="nofollow" target="_blank">post</a> on X today.</p> 
<p>He explained that this is part of healthy price action and using volatility, we can measure boredom in the market which translates into a lack of price action.</p> 
<p>He also said that boredom periods are much shorter than excitement and expansion and such times of low volatility are crucial to build support for the next leg up.</p> 
<p><a href="https://x.com/CryptoCon_/status/1795865980620402782/photo/1" rel="nofollow" target="_blank"><img loading="lazy" decoding="async" class="alignnone" src="https://pbs.twimg.com/media/GOwxmTeXIAEv3oN?format=jpg&amp;name=4096x4096" alt="" width="4074" height="2618" title="Bitcoin ETFs Recorded $28M Inflows, BTC Above $67k 11"></a></p> 
<p>Regardless of this boredom period, Bitcoin is still surrounded by optimistic predicitons coming from the massive potential of ETFs, the network <a href="https://crypto.ro/en/news/bitcoin-devs-network-programmability-is-the-next-btc-rally-trigger/">programmability</a>, and more.</p> 
<p>Speaking of adding new functions to the Bitcoin network as a new catalyst, the potential passage of the <a href="https://crypto.ro/en/news/how-the-op_cat-proposal-could-radically-change-the-bitcoin-blockchain-landscape/">OP_CAT Bitcoin Improvement Proposal</a> in 2025 could lead to significant Bitcoin innovation and widespread adoption.</p>

Bitcoin ETFs Recorded $28M Inflows, BTC Above $67k

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