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

Inhoudsopgave

BH NEWS

Andere artikelen gepubliceerd op 28 jul 2024

Crypto News: Dogecoin & Shiba Inu Fans Awestruck as BlockDAG’s Leadership Reveal Rockets Presale ...

Nixtons Group Review: Introducing the Trading

Bitcoin is bouncing back, but how far will it go?

BlackRock Records Significant Bitcoin ETF Inflows

Conflux Soars Over 20% Intraday, Eyeing A Breakout?

Trump Fuks Kamala (TRUMPKAM) Memecoin Will Explode Over 19,000%, As SHIB and Dogecoin Underperform

Meld je aan voor onze gratis nieuwsbrief voor dagelijkse crypto-updates!