Prime

Bitcoin ETF

Bitcoin

Spot

<p>The *BTC* ETF market recorded a net inflow of $21 million on June 26, 2024, highlighting continued investor interest in cryptocurrency investment products. Grayscale’s Bitcoin Trust (GBTC) experienced its first positive inflow of $4.3 million following a two-week period of consistent outflows. Conversely, BlackRock’s <a href="https://blockchainreporter.net/price-prediction/bitcoin-price-prediction/" data-type="post" data-id="64778">Bitcoin</a> ETF (IBIT) has seen no change in its inflows, remaining stagnant for the eighth consecutive day.</p> 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper"> 
  <blockquote class="twitter-tweet" data-width="500" data-dnt="true">
   <p lang="en" dir="ltr">🚨 <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">$BTC</a> <a href="https://twitter.com/hashtag/ETF?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">#ETF</a> Net Inflow June 26, 2024: +$21M!<br><br>• The net inflow remains positive but small.<br><br>• <a href="https://twitter.com/hashtag/Grayscale?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">#Grayscale</a> (GBTC) saw the first inflow of $4.3M after 13 days of outflows.<br><br>• The single-day flow of <a href="https://twitter.com/hashtag/BlackRock?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">#BlackRock</a> (IBIT) continued to be stagnant for the 8th day.<br><br>Follow <a href="https://twitter.com/spotonchain?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">@spotonchain</a>… <a href="https://t.co/9zCAONjbAx" target="_blank">pic.twitter.com/9zCAONjbAx</a></p>— Spot On Chain (@spotonchain) <a href="https://twitter.com/spotonchain/status/1806179011493871720?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">June 27, 2024</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
 </div>
</figure> 
<h2 class="wp-block-heading" id="government-sales-and-market-impact">Government Sales and Market Impact</h2> 
<p>King Young Ju, CEO of <a href="https://cryptoquant.com/" target="_blank" rel="noopener">CryptoQuant</a>, addressed concerns regarding the U.S. government’s recent sale of 4,000 Bitcoins, suggesting it unlikely to affect the broader market significantly. According to Ju, Coinbase Prime frequently handles between 6,000 and 49,000 Bitcoins daily as part of its operations related to ETF inflows, indicating that the market can absorb larger volumes without substantial disruption.</p> 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper"> 
  <blockquote class="twitter-tweet" data-width="500" data-dnt="true">
   <p lang="en" dir="ltr">US gov't sold 4K <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">#Bitcoin</a> today, but less likely to impact the market.<br><br>Coinbase Prime handled 20-49K BTC in sell-side liquidity daily during high spot ETF inflows and 6-15K daily during low spot ETF inflows.<br><br>Posting this because I'm tired of "gov't selling" FUDs. <a href="https://t.co/4IrO1aBGO6" target="_blank">pic.twitter.com/4IrO1aBGO6</a></p>— Ki Young Ju (@ki_young_ju) <a href="https://twitter.com/ki_young_ju/status/1806043349507526665?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">June 26, 2024</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
 </div>
</figure> 
<p>Ju’s comments respond to prevailing fears that government sales could destabilise the market. He emphasises that the daily transaction volumes during periods of both high and low ETF inflows suggest robust market liquidity capable of withstanding such sales without adverse repercussions. This statement aims to mitigate widespread misconceptions and anxiety surrounding government actions in crypto, often called ‘FUD’ (fear, uncertainty, and doubt).</p>

Positive Inflows for Bitcoin ETFs Indicate Steady Market Confidence Despite US Government Sale

İçindekiler

BlockchainReporter

27 Haz 2024 tarihli diğer yazılar

Marathon Digital Mines $16M in Kaspa, Strengthening Revenue Streams Beyond Bitcoin

Ethereum’s ETF Surge, Solana’s Rising ETF Demand, and Furrever Token’s Lucrative 50% Referral Cod...

📨 NEARWEEK ISSUE 166

Massive Audius & XRP Catalyst! + Web3 Music vs A.I.🚨

📢 9 New NEOPIN Token (NPT) pools launched 📢

Ethereum faces inflationary pressure: Will ETF approvals help?

Güncel kripto para haberleri için ücretsiz bültenimize abone olun!