Bitcoin Spot ETFs See $48M Inflow As Ethereum Spot ETF Trading Draws Nearer
Portfolio Pulse from Murtuza Merchant
Bitcoin spot ETFs have seen a $48.706 million inflow on May 30, marking the thirteenth consecutive day of positive net inflows. The Grayscale Bitcoin Trust (GBTC) reported no outflows, while the Fidelity Wise Origin Bitcoin Fund (FBTC) saw a $119 million inflow. Ethereum spot ETF trading is progressing, with the SEC requesting draft S-1 filings from issuers.
May 31, 2024 | 11:40 am
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POSITIVE IMPACT
The Fidelity Wise Origin Bitcoin Fund (FBTC) saw a significant single-day inflow of $119 million on May 30, reflecting strong investor interest.
The substantial inflow into FBTC indicates strong investor demand, which is likely to positively impact the fund's short-term performance.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 80
POSITIVE IMPACT
The Grayscale Bitcoin Trust (GBTC) reported no outflows on May 30, indicating strong investor confidence and stability.
The absence of outflows from GBTC suggests that investors are holding onto their positions, which is a positive indicator for the trust's stability and potential short-term price appreciation.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80