Bitcoin ETF

Bitcoin

Spot

<ul>
 <li>Farside Investors reports a $73 million inflow for the entire U.S. Spot Bitcoin ETF issuers.&nbsp;</li>
 <li>An important $82.4 million was poured into BlackRock’s IBIT ETF.</li>
</ul>
Even though U.S. Spot Bitcoin ETFs have had upward momentum for four days in a row, the price of <a href="https://thenewscrypto.com/bitcoin-miner-withdrawals-drop-85-since-halving-event-in-april/" target="_blank" rel="noopener noreferrer nofollow">Bitcoin</a> is struggling around the $61,000 mark. It is worth mentioning that several market experts have pointed to the recent lackluster trading activity of the U.S. Spot Bitcoin ETF as a significant cause of the BTC price decline.
Nevertheless, it seems that other variables are at work, since the U.S. Bitcoin ETF has remained in the green this week. There is a complicated interaction of market factors, as the ETFs have had upward momentum for four days in a row despite this price fall. Notably, BlackRock’s IBIT has been a major driver of the current migration.
<h3 class="wp-block-heading" id="h-redistribution-of-capital">Redistribution of Capital</h3>
Farside Investors reports a $73 million inflow for the entire U.S. Spot Bitcoin ETF issuers. An important $82.4 million was poured into <a href="https://thenewscrypto.com/u-s-bitcoin-etfs-see-226-2m-net-outflow-blackrocks-ibit-defies-trend/" target="_blank" rel="noopener noreferrer nofollow">BlackRock’s</a> IBIT ETF, marking the first sizable inflow since June 20. When contrasted with the withdrawals seen by other prominent Bitcoin ETFs, this flurry stands out.
GBTC by <a href="https://www.grayscale.com/" target="_blank" rel="noopener noreferrer nofollow">GrayScale</a> and FBTC by <a href="https://www.fidelity.com/" target="_blank" rel="noopener noreferrer nofollow">Fidelity</a>, had outflows of $27.2 million and $25 million, respectively. But the inflows from BlackRock and the extra contributions from Ark 21Shares’ ARKB, which saw an inflow of $42.8 million, more than made up for the withdrawals.
At the same time, investors seem to be shifting their focus to ETFs that are displaying durability and growth potential, as shown by this redistribution of capital. Even if the market as a whole has had a mixed performance, the recent inflows show that investors are becoming more confident in Bitcoin ETFs.
Highlighted Crypto News Today:
<a href="https://thenewscrypto.com/politifi-tokens-based-on-trump-and-biden-experience-post-debate-decline/" target="_blank" rel="noopener noreferrer nofollow">Politifi Tokens Based on Trump and Biden Experience Post-Debate Decline</a>

U.S Bitcoin ETFs See Positive Momentum Despite BTC Price Struggle

Table of Contents

TheNewsCrypto

Other articles published on Jun 29, 2024

Investors Focus on Meme Coins as Brett Surpasses $1 Billion Market Cap

Will You Stake Your Claim with Qubetics Whitelist or Hold Onto Fading Stars Like Polygon and Tron?

US Treasury Issues New Crypto Tax Reporting Rules for Crypto Brokers

BlockDAG’s $54.5M Presale Soars After Moon Keynote: Whales Eye 30,000x ROI as ICP & Cronos Hustle

Ethereum to Double? Solana ETF Predictions and Furrever Token’s 50% Bonus Code FURR50

Sergey Kondratenko: Fraud, sanctions and money laundering. How do sanctions affect the fintech in...

Join our free newsletter for daily crypto updates!