As a seasoned crypto investor with years of experience in the market, I find the recent inflows into U.S. spot bitcoin ETFs to be an encouraging sign. The consistent net inflows since mid-March, totaling over $13.43 billion, demonstrate growing institutional interest and confidence in Bitcoin as a legitimate investment asset.
Thursdays saw a total inflow of $107.91 million into U.S. bitcoin ETFs, making it the fifth consecutive day with significant investment in these funds, last observed during mid-March’s ten-day streak.
Based on SoSoValue’s recent data analysis, I found that BlackRock’s IBIT had the largest inflow with an impressive sum of $89 million. Trailing behind was Fidelity’s FBTC with a respectable $19 million, while VanEck’s fund attracted $10 million. Ark Invest and 21Shares, as well as Invesco and Galaxy Digital, each experienced inflows totaling $2 million.
Simultaneously, there was a withdrawal of $14 million from Grayscale’s GBTC conversion, whereas funds such as Bitwise and Valkyrie experienced no inflows or outflows during this period.
Over the past few months since their January debut, a staggering total of $13.43 billion has been invested into these eleven ETFs. This influx peaked in March but has since slowed down. Meanwhile, Bitcoin’s price experienced a 3.58% decrease within the last day, now standing at $67,119.
As a researcher studying the financial markets, I can tell you that on Thursdays after market close, the U.S. Securities and Exchange Commission gave its green light to 19b-4 forms for eight Ethereum Spot ETF proposals from leading firms. However, before trading can commence, these proposals still need approval in the form of S-1 registration statements.
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2024-05-24 10:12