Bitcoin spot ETFs continue their second day of inflows.
The funds attracted hundreds of millions of dollars on Friday. U. S. #bitcoin spot exchange-traded funds (ETFs) attracted hundreds of millions of investors on Friday, extending a string of positive inflows for a second day.
The inflows have increased in recent days amid a marked uptrend in the #cryptocurrency market amid expectations of a Fed rate cut and a significant rally in traditional assets. On Friday, the price of bitcoin #rose by nearly 3%, while Ether gained 2.7% to return to the $2400 mark.
According to SoSoValue, 12 U. S. spot bitcoin ETFs recorded daily inflows of $263.07 million on Sept. 13, the highest in a month. The funds' daily trading volume also totaled US$1.82 billion, up significantly from US$896.95 million the day before.
FBTC from Fidelity led the day's inflows with US$102.09 million, followed by ARKB from ARC Invest with US$99.27 million and BITB from Bitwise with US$43.06 million. Grayscale's GBTC, which has lost more than $20 billion since launch, saw inflows of $6.66 million for the first time in a long time.
Other notable inflows were VanEck's HODL, Franklin Templeton's EZBC and Valkyrie's BRRR funds, which attracted a total of $11.99 million. The remaining funds had zero inflows, including BlackRock's IBIT, the largest bitcoin #ETF by net asset value.
The large inflows indicate a return of investor confidence, and the bitcoin price rose 4 percent over the past 24 hours, breaking through the psychologically important US$60,000 level at 1:20 GMT on Sept. 3 14 According to CoinMarketCap, the cryptoasset rose to US$60,619 before partially reversing to US$59,703 at the time of writing.
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