Spot Bitcoin ETF Saw Two-Month High Of $948M Net Inflows Last Week
Portfolio Pulse from Murtuza Merchant
Spot Bitcoin ETFs saw a net inflow of $948 million last week, marking a positive trend compared to the past eight weeks. Despite this, Bitcoin remains in a correction phase. The SEC is expected to make a decision on Ethereum spot ETF applications this week, which could significantly impact Ethereum's mainstream adoption. Notable inflows were seen in Grayscale Bitcoin Trust, Fidelity Wise Origin Bitcoin Fund, and iShares Bitcoin Trust.
May 20, 2024 | 11:50 am
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POSITIVE IMPACT
Fidelity Wise Origin Bitcoin Fund saw a significant inflow of $99.4283 million, highlighting strong institutional interest.
The substantial inflow of $99.4283 million into FBTC suggests strong institutional interest, likely boosting its short-term price.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 85
POSITIVE IMPACT
Grayscale Bitcoin Trust saw an inflow of $31.6116 million, contributing to the overall positive trend in Bitcoin spot ETFs.
The inflow of $31.6116 million into GBTC indicates growing investor interest, which is likely to positively impact its short-term price.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
iShares Bitcoin Trust saw an inflow of $38.0829 million, contributing to the overall positive sentiment in Bitcoin spot ETFs.
The inflow of $38.0829 million into IBIT indicates positive investor sentiment, likely leading to a short-term price increase.
CONFIDENCE 85
IMPORTANCE 65
RELEVANCE 75