Solana

Bitcoin ETF

Bitcoin

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/vaneck-files-solana-etf" data-wpel-link="internal" rel="noopener noreferrer nofollow">VanEck Files Solana ETF</a><br></p>
<p style="text-align: justify">VanEck’s unexpected filing for a <a href="https://en.bitcoinhaber.net/solana-aims-high-analyst-foresees-over-300-breakthrough" data-wpel-link="internal" rel="noopener noreferrer nofollow">Solana</a> ETF has stirred significant interest in the crypto market. This landmark move prompted Bitcoin prices to surge past $62,000, while Solana experienced nearly a 10% increase. This development also boosted the spot Bitcoin ETF sector, bringing in notable inflows.</p>
<h2 id="how-are-spot-bitcoin-etfs-performing">How Are Spot Bitcoin ETFs Performing?</h2>
<p style="text-align: justify">Yesterday’s total inflows into U.S. spot Bitcoin ETFs reached $11.8 million, a modest amount compared to previous days. Grayscale’s Bitcoin ETF was the only one to see outflows, losing $11 million. Despite this, other ETFs witnessed positive inflows, ending the day on a positive note.</p>
<p style="text-align: justify">Interestingly, BlackRock’s ETF saw no inflows for the second consecutive day, making it a notable exception. This lack of inflows allowed other spot Bitcoin ETFs to take the lead in the market.</p>
<h2 id="where-is-the-largest-inflow">Where Is the Largest Inflow?</h2>
<p style="text-align: justify">The Bitwise Bitcoin ETF saw the largest inflow at $8 million, according to SoSoValue figures. Fidelity’s ETF followed with a $7 million inflow, while Franklin, Invesco, and Ark Invest recorded $4 million, $3 million, and $2 million respectively. Other Bitcoin ETFs recorded no inflows.</p>
<h2 id="investment-takeaways">Investment Takeaways</h2>
<p style="text-align: justify">Key points for investors to consider:</p>
<ul>
 <li>Monitor VanEck’s Solana ETF filing for market impact.</li>
 <li>Track Bitcoin ETF inflows and outflows, especially BlackRock’s performance.</li>
 <li>Watch Bitcoin price movements closely, influenced by ETF activities.</li>
 <li>Be aware of the Fed’s interest rate cut timeline, now expected in December.</li>
</ul>
<h2 id="current-bitcoin-price-dynamics">Current Bitcoin Price Dynamics</h2>
<p style="text-align: justify">Bitcoin currently trades at $61,518, having peaked at $62,389 in the last 24 hours. The Fed’s anticipated interest rate cuts, now likely in December, will be a crucial factor in supporting Bitcoin prices. Initially expected last year for May and June 2024, this delay could affect the potential <a href="https://finance.coin-turk.com/" rel="noopener noreferrer nofollow" target="_blank" data-wpel-link="exclude">bull market</a> for Bitcoin and other cryptocurrencies.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/vaneck-files-solana-etf" data-wpel-link="internal" rel="noopener noreferrer nofollow">VanEck Files Solana ETF</a></h5>

VanEck Files Solana ETF

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