$241M Spot Bitcoin ETF Inflows On Monday Fuel Rally Above $70K
Portfolio Pulse from Murtuza Merchant
Bitcoin spot ETFs saw a significant net inflow of $241 million on Monday, driving Bitcoin prices above $70,000. Leading the inflows were Ark Invest and 21Shares’ ETF (ARKB), BlackRock’s iShares Bitcoin Trust (IBIT), Fidelity Wise Origin Bitcoin Fund (FBTC), Bitwise’s Bitcoin ETF (BITB), and Grayscale Bitcoin Trust (GBTC). The inflows reflect growing investor confidence and favorable market conditions.
May 21, 2024 | 11:25 am
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POSITIVE IMPACT
Ark Invest and 21Shares’ ETF (ARKB) led the inflows with $68.2812 million, reflecting strong investor confidence in Bitcoin.
ARKB led the inflows among Bitcoin ETFs, indicating strong investor confidence and likely positive short-term price movement.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 90
POSITIVE IMPACT
Bitwise’s Bitcoin ETF (BITB) saw $27.98 million in inflows, contributing to the overall positive trend in Bitcoin ETFs.
BITB's inflows contribute to the positive sentiment in Bitcoin ETFs, likely leading to positive short-term price movement.
CONFIDENCE 75
IMPORTANCE 65
RELEVANCE 75
POSITIVE IMPACT
Fidelity Wise Origin Bitcoin Fund (FBTC) experienced $64.01 million in inflows, indicating robust investor interest in Bitcoin.
FBTC's substantial inflows suggest strong investor confidence, likely resulting in positive short-term price movement.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Grayscale Bitcoin Trust (GBTC) reported minor inflows of $9.3475 million, a positive sign given its previous outflows.
GBTC's minor inflows are a positive shift from previous outflows, indicating a potential positive short-term price movement.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
BlackRock’s iShares Bitcoin Trust (IBIT) saw $66.3502 million in inflows, contributing to the overall positive sentiment in Bitcoin ETFs.
IBIT's significant inflows reflect strong investor interest, likely leading to positive short-term price movement.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 85