US spot Bitcoin exchange-traded funds have surpassed $30 billion in cumulative total net inflows for the first time since their launch in January.
US Spot Bitcoin ETFs Surpass $30 Billion in Total Inflows as BTC Approaches $100,000
Bitcoin ETFs have seen high trading volume and net inflows amid rising market sentiment following former President Donald Trump’s re-election. The funds saw their combined net asset value surpass the $100 billion mark on Wednesday.
According to SoSoValue data, 12 bitcoin ETFs reported a total daily net inflow of $1 billion, bringing the cumulative total flow to $30.35 billion.
BlackRock’s IBIT led the inflows with $608.41 million, followed by Fidelity’s FBTC with $300.95 million.
Bitwise’s spot Bitcoin fund pulled in $68 million, while Ark and 21Shares’ ARKB each recorded $17 million. Grayscale’s Mini Bitcoin BTC Trust and Franklin Templeton’s Bitcoin ETFs also added net inflows.
Grayscale’s GBTC was the only fund with negative flows yesterday, recording $7.8 million in net outflows. The other four funds saw zero flows for the day. A total of 12 ETFs saw $7.1 billion in trades yesterday.
Bitcoin’s relentless rise has taken it to a new all-time high and it is now targeting the highly anticipated $100,000 price level. It has gained 2% in the last 24 hours and is trading at $99,420 at the time of writing.
Meanwhile, spot Ethereum ETFs in the U.S. saw net outflows of $9.05 million on Thursday, extending a negative flow streak to six days. Nine Ethereum ETFs saw a total trading volume of $839.64 million yesterday.
*This is not investment advice.
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Source: https://en.bitcoinsistemi.com/bitcoin-price-pushes-100000-etf-total-inflows-also-break-record-here-are-the-details/