Bitcoin Spot ETFs See $39M Inflows, 'Bullish Correction' May Be In Play, Expert Tells Benzinga
Portfolio Pulse from Murtuza Merchant
Bitcoin spot ETFs have seen a net inflow of $39.02 million, with Ark & 21Shares and Fidelity leading the charge. In contrast, Grayscale's Bitcoin and Ethereum ETFs experienced outflows. The market is sensitive to macroeconomic data and political developments, with potential sideways trends until the election.
September 13, 2024 | 11:24 am
News sentiment analysis
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POSITIVE IMPACT
Ark & 21Shares Bitcoin ETF saw a significant inflow of $18.34 million, indicating investor confidence in Bitcoin ETFs.
The inflow into Ark & 21Shares Bitcoin ETF suggests positive investor sentiment towards Bitcoin ETFs, likely boosting its short-term price.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Fidelity's Bitcoin ETF recorded an $11.47 million inflow, reflecting positive investor sentiment.
The inflow into Fidelity's Bitcoin ETF suggests a positive outlook from investors, likely supporting its short-term price.
CONFIDENCE 85
IMPORTANCE 60
RELEVANCE 70
NEGATIVE IMPACT
Grayscale's Ethereum ETF saw a significant net outflow of $20.14 million, reflecting investor concerns.
The substantial outflow from Grayscale's Ethereum ETF suggests negative investor sentiment, likely impacting its short-term price negatively.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70
NEGATIVE IMPACT
Grayscale's Bitcoin ETF experienced a $6.51 million outflow, indicating potential investor concerns.
The outflow from Grayscale's Bitcoin ETF suggests waning investor confidence, potentially leading to a short-term price decline.
CONFIDENCE 80
IMPORTANCE 65
RELEVANCE 75