Bitcoin ETF

Bitcoin

Donald Trump

<ul> 
 <li><strong>US spot Bitcoin ETFs have experienced record inflows recently, with BlackRock’s Bitcoin ETF (IBIT) accumulating over $1.3 billion in the past ten trading sessions.</strong></li> 
 <li><strong>Political events, including Trump’s and Biden’s recent actions, have contributed to market fluctuations.</strong></li> 
</ul>  
<p>The spot Bitcoin ETFs in the United States have registered heavy inflows over the past two weeks smashing new records every passing day. Also, the BlackRock Bitcoin ETF IBIT has been leading the pack with massive inflows, per the CNF <a href="https://www.crypto-news-flash.com/blackrocks-btc-etf-sees-record-inflows-despite-bitcoin-sentiment-slump/" target="_blank" rel="noopener">update</a>. Over the past ten trading sessions, IBIT recorded more than $1.3 billion worth of inflows thereby taking the total AUM to more than $18 billion.</p> 
<p>This shows that BlackRock has managed to absorb the total outflows coming from Grayscale’s GBTC since the launch of the spot ETFs. As a result, the net flows into spot Bitcoin ETFs in the US have remained at $17 billion.</p> 
<p>Evidently, BlackRock’s substantial investments in Bitcoin seem to be paying off well. The inflows came at a time when the Bitcoin price tanked to $53,500 and throughout its recovery path to $65,000. Amid the current inflows, the total BTC holdings of BlackRock’s IBIT have crossed 325,000 since its inception in January. As a result, the value of the total BTC holdings in IBIT has moved past $20 billion. This helps IBIT position as the largest Bitcoin ETF, with Fidelity coming second at $10 billion inflows.</p> 
<p>Fidelity’s FBTC has been a major player, with $9.962 billion in net inflows. This strong interest is underscored by the fact that US spot Bitcoin ETFs have seen positive inflows for nine consecutive days, including $53.35 million on July 17th.</p> 
<h3 id="btc-price-volatility-and-the-path-ahead">BTC Price Volatility And the Path Ahead</h3> 
<p>In recent days, the Bitcoin price has shown strong volatility owing to key political events in the United States. As of press time, the Bitcoin price is trading <span style="color: #339966;">1</span>% up at $67,648 with a market cap of $1.334 trillion</p> 
<p><span data-sheets-root="1"></span></p>
<div class="cryptoboxes" id="mcw-19491" data-realtime="on">
 <div class="mcw-chart mcw-chart-light" data-font="inherit" data-coin="bitcoin" data-symbol="BTC" data-currency="USD" data-rate="1.000268" data-type="chart" data-view="month" data-theme="light" data-smooth="true" data-areacolor="" data-bgcolor=""></div>
</div> 
<p>As per the latest report from QCP Capital, the US election has been fueling volatility in risk assets starting with Trump’s assassination attempt a week back. Furthermore, there’s strong speculation that Donald Trump might announce his intention to make Bitcoin a reserve asset after the Presidential election win in November, per the CNF <a href="https://www.crypto-news-flash.com/bitcoin-price-explodes-to-68000-as-donald-trump-might-use-btc-as-strategic-reserve-for-the-u-s/" target="_blank" rel="noopener">report</a>.</p> 
<p>On the other hand, President Joe Biden’s withdrawal from the Presidential election has provided some thrust to Bitcoin and the broader crypto market, <a href="https://www.crypto-news-flash.com/joe-biden-drops-out-of-presidential-race-bitcoin-whale-donald-trump-calls-for-all-btc-to-be-produced-in-the-u-s/" target="_blank" rel="noopener">reported</a> CNF. The Biden administration has largely stayed anti-crypto throughout its tenure and thus his ouster has sent some hope to the crypto community.</p> 
<p>This led to erratic movements in the crypto market, with Bitcoin initially dropping over 1,000 points before recovering to $68K today. Election-related news will continue to drive market volatility, particularly in the crypto sector, with heightened attention on Trump’s upcoming appearance at the Nashville Bitcoin conference this weekend, reported QCP.</p>

BlackRock’s IBIT Leads with $18 Billion as US Bitcoin Spot ETFs See Record Inflows

Inhaltsverzeichnis

Crypto News Flash

Weitere Artikel, die am 22. Juli 2024 veröffentlicht wurden

Cardano Founder Proposes "Tasseled Wobblegong" for Hard Fork Name

Japan Seeks Major Tax Reform for Crypto-Assets: A Leap Towards Financial Innovation

Investors Monitor XRP Coin Lawsuit Impact

WazirX Hack: Indian Exchange Announces $11M Bounty

Here’s Why The Bitcoin Price Crashed Below $66,000, Taking Shiba Inu And Dogecoin With It

Toncoin (TON) Skyrockets 170% in Volume, What's Going On?

Abonniere unseren kostenlosen Newsletter und erhalte tägliche Krypto-Updates!