Solana

Bitcoin

Status

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/vaneck-files-solana-etf-bitcoin-price-rises/" data-wpel-link="internal">VanEck Files Solana ETF, Bitcoin Price Rises</a><br></p>
<p style="text-align: justify">The hottest topic in the crypto <a href="https://newslinker.co/category/science/space/" target="_blank" rel="noopener" data-wpel-link="exclude">space</a> yesterday was the spot <strong><a href="https://en.coin-turk.com/canada-approves-solana-etf-application/" data-wpel-link="internal">Solana</a></strong> ETFs. The file submitted by VanEck came as a surprise development for the crypto sector. Following the development, Bitcoin rose above $62,000, and Solana saw nearly a 10% increase. At this stage, the partial price improvement also brought some inflows into the spot Bitcoin ETF sector.</p> 
<h2 style="text-align: justify" id="current-status-of-spot-bitcoin-etfs">Current Status of Spot Bitcoin ETFs</h2> 
<p style="text-align: justify">Yesterday, the total inflows into spot <strong>Bitcoin</strong> ETFs in the US amounted to $11.8 million, a small figure compared to other days. The only ETF with outflows was Grayscale’s Bitcoin ETF, with an outflow of $11 million. With inflows into other ETFs, the day ended in the positive.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="wp-image-365945 size-full aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/06/btc-etf-4.png" alt="" width="1632" height="773"></p> 
<p style="text-align: justify">Interestingly, there were no inflows into <strong>BlackRock</strong> yesterday. The previous day also saw no inflows, and the same ETF recorded zero. With zero inflows again, other spot Bitcoin ETFs became the carriers.</p> 
<h2 style="text-align: justify" id="largest-inflow-into-bitwise">Largest Inflow into Bitwise</h2> 
<p style="text-align: justify">The largest inflow in the spot Bitcoin ETF sector was $8 million into <strong>Bitwise</strong>‘s Bitcoin ETF. SoSoValue figures show Fidelity had the second-largest inflow of $7 million.</p> 
<p style="text-align: justify">Franklin recorded a $4 million inflow, Invesco $3 million, and Ark Invest $2 million. Other Bitcoin ETFs saw no inflows and ended the day with zero.</p> 
<h2 style="text-align: justify" id="current-bitcoin-price">Current Bitcoin Price</h2> 
<p style="text-align: justify">At the time of writing, Bitcoin is trading at $61,518. Bitcoin reached a high of $62,389 in the last 24 hours. BTC seems to have quickly returned to its range.</p> 
<p style="text-align: justify">An important factor supporting the Bitcoin price will be the <strong>Fed</strong>‘s <a href="https://finance.coin-turk.com/" data-wpel-link="exclude">interest rate</a> cuts. However, the earliest these cuts are expected is in December.</p> 
<p style="text-align: justify">Last year, interest rate cuts were expected in May and June 2024, but the timeline has shifted by about 6-7 months. This means the potential bull season for Bitcoin and cryptocurrencies might be delayed or prolonged.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/vaneck-files-solana-etf-bitcoin-price-rises/" data-wpel-link="internal">VanEck Files Solana ETF, Bitcoin Price Rises</a></h5>

VanEck Files Solana ETF, Bitcoin Price Rises

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