Bitcoin ETF

President Donald Trump

BlackRock

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/blackrock-sees-major-bitcoin-etf-inflows" data-wpel-link="internal" rel="noopener noreferrer nofollow">BlackRock Sees Major Bitcoin ETF Inflows</a><br></p>
<p style="text-align: justify">BlackRock’s spot <a href="https://en.bitcoinhaber.net/bitcoin-closes-monthly-candle-above-38000-analysts-predict-consolidation" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitcoin</a> exchange-traded fund (ETF) experienced a significant influx on July 23, recording its highest inflow in four months with over $523 million added to the fund. Despite notable outflows from Grayscale’s recently converted Ethereum Trust, Ethereum investment funds still managed to attract a net inflow of $106.6 million in the initial trading days. Asset manager Bryan Courchesne shared insightful comments on these developments.</p>
<h2 id="what-s-happening-with-bitcoin-etfs">What’s Happening with Bitcoin ETFs?</h2>
<p style="text-align: justify">On July 22, the iShares Bitcoin Trust ETF (IBIT) reported an inflow of 7,759 Bitcoins, valued at more than $523 million, according to Hey Apollo data. This addition raised IBIT’s total assets under management to 333,000 Bitcoins, currently worth around $22 billion. This was the seventh-largest single-day inflow for IBIT in terms of US dollars, following its largest inflow on March 18, when $849 million worth of Bitcoin entered the fund. The second-largest inflow occurred on March 5, with $788 million added.</p>
<h2 id="strong-interest-in-ethereum-etfs">Strong Interest in Ethereum ETFs?</h2>
<p style="text-align: justify">Ethereum ETFs saw a net inflow of $106.6 million, even as Grayscale’s Ethereum Trust faced substantial outflows. BlackRock’s iShares Ethereum Trust ETF led with $266.5 million in inflows, trailed by Bitwise Ethereum ETF with a net inflow of $204 million, and Fidelity Ethereum Fund ETF with $71.3 million. These inflows counterbalanced the $484.9 million outflow from Grayscale Ethereum Trust (ETHE), equivalent to 5% of its former $9 billion value. ETHE, launched in 2017, allows institutional <a href="https://finance.coin-turk.com/" rel="noopener noreferrer nofollow" target="_blank" data-wpel-link="exclude">investors</a> to purchase Ethereum but requires a six-month lock-up.</p>
<h2 id="bitcoin-debate-continues-in-the-us">Bitcoin Debate Continues in the US</h2>
<p style="text-align: justify">Asset manager Bryan Courchesne discussed on CNBC the possibility of Bitcoin becoming a strategic reserve asset for the US government under a potential <a href="https://newslinker.co/what-are-the-future-technologies/" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="exclude">future</a> Trump administration. He cited the Department of Justice’s holdings of 200,000 Bitcoins, positioning the US government as the second-largest holder of Bitcoin after Satoshi Nakamoto. Courchesne suggested that transferring Bitcoin to the Treasury could enable the US to hold this scarce asset long-term. Speculation about Bitcoin’s status as a global or US Treasury reserve asset grew after former President Donald Trump voiced support for cryptocurrencies in response to global debt and inflation concerns.</p>
<h2 id="key-takeaways">Key Takeaways</h2>
<p style="text-align: justify">– BlackRock’s Bitcoin ETF saw over $523 million inflows, the largest in four months.<br>– Ethereum ETFs reported net inflows of $106.6 million, despite Grayscale’s significant outflows.<br>– BlackRock’s iShares Ethereum Trust ETF led with $266.5 million in inflows.<br>– The US government holds 200,000 Bitcoins, sparking debate about Bitcoin becoming a strategic reserve asset.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/blackrock-sees-major-bitcoin-etf-inflows" data-wpel-link="internal" rel="noopener noreferrer nofollow">BlackRock Sees Major Bitcoin ETF Inflows</a></h5>

BlackRock Sees Major Bitcoin ETF Inflows

Table of Contents

BH NEWS

Άλλα άρθρα που δημοσιεύτηκαν στις 28 Ιουλ 2024

Nearly All Celebrity Tokens Launched In 2024 Has Gone Down To Zero

$31M Neiro project on Ethereum ‘is a honeypot’ — Wazz

RFK Jr. Proposes Bitcoin-Backed Economic Plan, Pledges Executive Orders to Boost US Dominance and...

Cantor Fitzgerald to offer Bitcoin financing and lending solutions

Casper Network Halts Operations for Security

Harris Criticizes, Trump Holds: Get Your Coins Before Trump’s Potential Election Victory

Join our free newsletter for daily crypto updates!