Bittime - exchange-traded funds Bitcoin (ETFs) in the United States continue to attract investors' attention with net inflows for nine consecutive days. On Thursday, spot Bitcoin ETFs recorded inflows of $107.91 million, indicating strong interest from the market.
Inflows Led by Major Mutual Funds
Over the past nine days, spot Bitcoin ETFs saw significant net inflows, totaling $107.91 million on Thursday alone. These inflows were led by BlackRock's IBIT fund which posted $89 million, followed by Fidelity's FBTC with $19 million. VanEck also reported net inflows of $10 million. Additionally, Bitcoin funds from Ark Invest and 21Shares, as well as ETFs from Invesco and Galaxy Digital, each recorded daily net inflows of $2 million.
However, not all funds experience positive flows. GBTC converted by Grayscale reported a net outflow of $14 million. Additionally, several funds such as Bitwise, Valkyrie, Franklin Templeton, WisdomTree, and Hashdex reported no change in their inflows.
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Overall Performance of Bitcoin ETFs
Since listing in January, the 11 spot Bitcoin ETFs have seen total net inflows of more than $13.43 billion. Despite recent positive trends, overall total flows for this ETF are still much lower than their peak in March. At that time, net inflows for ten consecutive days reached a record high.
The price of Bitcoin itself fell 2.61% in the last 24 hours to $67,642, adding to volatility in the market. Nonetheless, increasing inflows into spot Bitcoin ETFs indicate that institutional investors remain optimistic about the digital asset's long-term potential.
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Ethereum Spot ETF Approval
In related news, the US Securities and Exchange Commission (SEC) has granted form 19b-4 approval for eight spot Ethereum ETFs from major companies such as BlackRock, Fidelity, Grayscale, Bitwise, VanEck, Ark, Invesco Galaxy, and Franklin Templeton. However, before these Ethereum ETFs can begin trading, they still need approval of their S-1 registration statement by regulators.
Also read: Hashdex Bitcoin ETF: Adding to the Line of Spot Bitcoin ETFs in the United States
Future Prospects
With strong inflows into spot Bitcoin ETFs, it appears that investor interest in the digital asset shows no signs of abating. Although Bitcoin prices are currently under pressure, consistent inflows into ETFs indicate the market's confidence that prices will rise in the long term. Additionally, the approval of a spot Ethereum ETF by the SEC could also open up new opportunities for investors seeking diversification in their digital asset portfolios.
Significant inflows into spot Bitcoin ETFs demonstrate continued interest from institutional investors in this digital asset. With total net inflows of more than $13.43 billion since January, spot Bitcoin ETFs show potential to continue attracting larger investments in the future. Additionally, the approval of a spot Ethereum ETF by the SEC could provide an additional boost to the overall digital asset market.
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With ever-increasing inflows and potential for future growth, Bitcoin and Ethereum ETFs could be attractive investment instruments for investors seeking exposure to the crypto market.
How to Buy Crypto on Bittime
You can buy and sell crypto assets in an easy and safe way via Bittime. Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti.
To be able to buy crypto assets on Bittime, make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application.
Monitor price chart movements of Bitcoin (BTC) , Ethereum (ETH) , Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.
Also read:
Bitcoin ETF and Grayscale's GBTC Trust, What's the Difference?
Want to Profit from Bitcoin? Check Out the Latest Developments on the Fidelity Bitcoin ETF!
Investors Enthusiastic About Bitcoin ETFs from BlackRock and Fidelity
Bitcoin ETF Rise Triggers Crypto Market Wave
DISCLAIMER: This article is informational in nature and is not an offer or invitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.
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