Bitcoin Spot ETFs Record 17 Straight Inflow Days, Reaching $15.3B Year-To-Date
Portfolio Pulse from Murtuza Merchant
Bitcoin spot ETFs have recorded 17 consecutive days of net inflows, reaching a cumulative $15.3 billion year-to-date. Individual ETFs like Grayscale's GBTC, Fidelity's FBTC, BlackRock's IBIT, and Ark Invest's ARKB saw significant inflows. The positive trend is driven by low jobless claims and anticipated CPI data, with speculation of potential rate cuts adding momentum. Ethereum's performance lags due to delays in ETF approval.
June 06, 2024 | 10:50 am
News sentiment analysis
Sort by:
Descending
POSITIVE IMPACT
Ark Invest's Bitcoin ETF (ARKB) saw a $71 million inflow, reflecting continued investor interest in Bitcoin ETFs.
The inflow into ARKB suggests ongoing investor demand, likely leading to short-term price gains.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Fidelity's Bitcoin ETF (FBTC) recorded a substantial inflow of $221 million, reflecting strong investor interest.
The large inflow into FBTC suggests robust investor demand, likely leading to short-term price gains.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Grayscale's Bitcoin Trust (GBTC) saw a single-day inflow of $14.5802 million, contributing to the overall positive trend in Bitcoin spot ETFs.
The significant inflow into GBTC indicates strong investor confidence and demand, likely driving short-term price appreciation.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
BlackRock's Bitcoin ETF (IBIT) achieved $155 million in inflows, contributing to the positive momentum in Bitcoin spot ETFs.
The significant inflow into IBIT indicates strong investor confidence, likely driving short-term price appreciation.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80