Read

Grayscale Bitcoin Trust

Spot

Spot Bitcoin exchange-traded funds in the United States have been seeing consecutive inflows ahead of the spot Ethereum ETF launch. 
According to <a href="https://farside.co.uk/?p=997" target="_blank" rel="">data</a> provided by Farside Investors, spot Bitcoin (<a href="https://crypto.news/price/bitcoin/" target="_blank" rel="noreferrer noopener">BTC</a>) ETFs recorded $533.6 million in inflows on July 22 — reaching the highest level since June 4’s $886.6 million. This is the third consecutive week of inflows for the investment products. 
Most of the inflows, worth $526.7 million, came from BlackRock’s iShares Bitcoin Trust (IBIT), per Farside Investors. With the recent surge, the total amount of inflows into the IBIT ETF came close to the $19.5 billion mark. 
Data shows that the Fidelity Wise Origin Bitcoin Fund (FBTC), Invesco Galaxy Bitcoin ETF (BTCO) and Franklin Bitcoin ETF (EZBC) also had $23.7 million, $13.7 million and $7.9 million in inflows, respectively.&nbsp; 
Moreover, despite the market-wide bullish expectations, the VanEck Bitcoin Trust (HODL) registered $38.4 million in outflows. 
 You might also like: <a href="https://crypto.news/us-elections-crypto-volatility/"> US elections to keep driving crypto volatility: report </a> 
The remaining spot BTC ETFs, including the Grayscale Bitcoin Trust (GBTC), stayed neutral. According to Farside Investors, the total amount of these investment products is currently sitting at $17.58 billion. 
While the spot BTC ETFs started a bullish week, the Bitcoin price declined by 1.3% in the past 24 hours. The flagship cryptocurrency is trading at $66,650 with a market capitalization of $1.31 trillion at the time of writing.&nbsp; 
<figure class="wp-block-image size-large">
 <picture loading="lazy" decoding="async" class="wp-image-14286503"> 
 <source type="image/webp" srcset="https://crypto.news/app/uploads/2024/07/BTCUSDT_2024-07-23_11-18-17-1024x600.png.webp"> 
 <img loading="lazy" decoding="async" width="1024" height="600" src="https://crypto.news/app/uploads/2024/07/BTCUSDT_2024-07-23_11-18-17-1024x600.png" alt="BTC ETF inflows reached $533m ahead of ETH ETF launch - 18"> 
 </picture> 
 <figcaption class="wp-element-caption">
 BTC price – July 23 | Source: <a href="https://crypto.news/price/bitcoin/">Trading View</a>
 </figcaption>
</figure> 
Notably, spot Ethereum (<a href="https://crypto.news/price/ethereum/" target="_blank" rel="noreferrer noopener">ETH</a>) <a href="https://crypto.news/eth-etf-launch-sell-the-news/" target="_blank" rel="noreferrer noopener">ETFs</a> in the U.S. are also expected to <a href="https://crypto.news/ethereum-etfs-get-final-approval-trading-to-start-tuesday/" target="_blank" rel="noreferrer noopener">start trading</a> today after getting the green light from the U.S. SEC. So far, the regulator approved the ETF applications from BlackRock, Fidelity, VanEck, 21Shares and Bitwise, to name a few. 
 Read more: <a href="https://crypto.news/ethereum-price-analysis-2024/"> Ethereum price faces a major supply wall at $3.5k </a>

BTC ETF inflows reached $533m ahead of ETH ETF launch

crypto.news

Altri articoli pubblicati su 23 lug 2024

Pepe Eats Solana (PEPEATS) Will Explode Over 19,000% Before Exchange Listings, As Shiba Inu and D...

Bitwise, Grayscale Ethereum ETFs: Next steps as NYSE clears listing

Trump Fired Biden Solana Memecoin Prepares to Surge 17,000% Before First Listings, As SHIB and Do...

Reveel Reaches Milestone of 100,000 Users in Over 160 Countries (23 Jul)

Mt. Gox Prepares For Repayments On Bitstamp, Executes Test Transactions

2024’s top Altcoin investments: discover the next big crypto winners

Iscriviti alla nostra newsletter gratuita per aggiornamenti giornalieri sulle criptovalute!