Bitcoin Crosses $67,500 As Spot ETFs Record $101M Inflow
Portfolio Pulse from Murtuza Merchant
Bitcoin spot ETFs experienced a significant net inflow of $101 million on June 12, reflecting growing investor confidence. Fidelity’s ETF (FBTC) led with $50.623 million, followed by BlackRock’s ETF (IBIT) with $15.5789 million. Grayscale’s ETF (GBTC) saw no net change. This surge comes amid expectations of potential rate cuts in 2024.
June 13, 2024 | 11:21 am
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NEUTRAL IMPACT
Grayscale’s Bitcoin ETF saw no net inflow or outflow, remaining static for the day.
The lack of net inflow or outflow for Grayscale’s ETF indicates a neutral investor stance, suggesting no immediate price impact.
CONFIDENCE 85
IMPORTANCE 50
RELEVANCE 100
POSITIVE IMPACT
Fidelity’s Bitcoin ETF recorded a significant daily inflow of $50.623 million, indicating strong investor confidence.
The substantial inflow into Fidelity’s ETF suggests strong investor confidence in Bitcoin, likely driving short-term price appreciation.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
BlackRock’s Bitcoin ETF recorded a daily inflow of $15.5789 million, showing positive investor sentiment.
The inflow into BlackRock’s ETF reflects positive investor sentiment towards Bitcoin, likely supporting short-term price gains.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100