Key points:
- U.S. spot bitcoin exchange-traded funds (ETFs) recorded net inflows of $158 million on Thursday, a turnaround from $52 million in net outflows the previous day.
Spot bitcoin ETFs inflows reached $158.21M on Thursday, led by ARKB and FBTC, marking a recovery from the previous day’s $52M outflows, with bitcoin nearing $64,000.
Spot Bitcoin ETFs Inflows Reach $158 Million After Recent Outflows
Spot bitcoin ETFs saw $158.21 million in net inflows on Thursday, rebounding from $52 million in outflows the day before. Leading the inflows were Ark Invest’s ARKB with $81.07 million and Fidelity’s FBTC with $49.88 million. No Bitcoin ETFs saw outflows on the day, according to SoSoValue data.
In total, 12 bitcoin ETFs saw a daily trading volume of $1.44 billion. Since their launch in January, these funds have accumulated $17.60 billion in net inflows, further strengthening the market.
Read more: Spot Bitcoin ETFs Outflows Hit $52.8M, Ending Four-Day Inflow Streak
Bitcoin Price Nears $64,000 as Spot Bitcoin ETFs Recover
Bitcoin rose 2.3% to $63,550, supported by recent macroeconomic developments, including a rate cut by the Federal Reserve. The price increase coincided with increased inflows into spot bitcoin ETFs, reflecting overall market optimism.
This positive move was reinforced by improving risk sentiment across global markets, as seen in tandem with the S&P 500 and Nasdaq. Despite the rally, retail participation remains low, casting doubt on the long-term sustainability of the trend.
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Source: https://coincu.com/283566-spot-bitcoin-etfs-inflows-rebound-with-158m