Spot bitcoin ETFs record net inflows for nine straight days

Bitget App

Trade smarter

The Block2024/05/24 04:58

By:Danny Park

U.S. spot bitcoin exchange-traded funds saw $107.91 million worth of net inflows on Thursday.Fund inflows from Fidelity, VanEck and others outweighed outflows from Grayscale’s GBTC.The SEC approved eight spot ether ETFs later on Thursday.

U.S. spot bitcoin exchange-traded funds recorded a ninth consecutive day of net inflows, drawing in $107.91 million on Thursday. This is the longest streak of positive flows seen in spot bitcoin ETFs since mid-March, when they logged 10 straight days of inflows.

BlackRock’s IBIT led the inflows with $89 million, followed by Fidelity’s FBTC that drew in $19 million. VanEck’s spot bitcoin fund also reported net inflows of $10 million, according to data from SoSoValue. Ark Invest and 21Shares’ bitcoin fund and Invesco and Galaxy Digital’s ETF both logged daily net inflows of $2 million.

Grayscale’s converted GBTC reported a net outflow of $14 million. Funds from Bitwise, Valkyrie, Franklin Templeton, WisdomTree and Hashdex recorded zero flows on Thursday.

Combined, the 11 spot bitcoin ETFs saw total net inflows of over $13.43 billion since their January listing. However, overall flows for the 11 ETFs remain significantly lower than their peak in March, The Block’s data dashboard showed.

RELATED INDICES

See Crypto Indices

The price of bitcoin fell 2.61% in the past 24 hours to $67,642, according to The Block's price page .

After Thursday’s market closed, the U.S. Securities and Exchange Commission announced that it approved 19b-4 forms for eight spot Ethereum ETFs from BlackRock, Fidelity, Grayscale, Bitwise, VanEck, Ark, Invesco Galaxy and Franklin Templeton. The ether ETFs will still need to have their S-1 registration statements approved by the regulator before trading can start.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Locked for new tokens.

APR up to 10%. Always on, always get airdrop.

Lock now!

Share link:In this post: Bitcoin dominance hit 59.75% this week as BTC pushes higher, while Ethereum struggles against it, dropping to a new low on the ETH/BTC pair. Institutional interest in Bitcoin is strong, with $997.7 million flowing into BTC ETFs, its third straight week of inflows. Tether’s USDT faced volatility after reports of a U.S. government investigation, briefly dipping below its peg before recovering slightly.

Cryptopolitan•2024/10/28 07:22

Sotheby’s VP Michael Bouhanna turns meme coin BAN into a $1M payday with insider trading

Share link:In this post: Michael Bouhanna, Sotheby’s VP, launched his own meme coin, BAN, after losing money on other meme coins, using insider wallets to make over $1 million. Bouhanna openly shared his wallet address before deleting it, revealing his link to BAN’s creation and insider buys for profit. His setup included multiple wallets funded from a single source, allowing him to control and trade under the radar.

Cryptopolitan•2024/10/28 07:22