📣 BlackRock buys major Bitcoin ETFs
Bitcoin ETFs have attracted significant attention, driving Bitcoin prices to unprecedented heights.
🔸 How do Spot Bitcoin ETFs work?
Spot Bitcoin ETFs have seen consistent net inflows since mid-May. Sales from GBTC have largely dropped, leading to a positive inflow trend. May 24 saw a significant inflow of $251 million, the highest since May 16. This continued growth indicates sustained interest in Bitcoin ETFs.
Cumulative inflows to all spot bitcoin ETFs reached an impressive $13.6 billion. Although this figure has declined, it continues to set new records. GBTC reported an outflow of $17 billion, while IBIT had an inflow of $16.3 billion.
🔸 Key information for investors
- BlackRock's strategic investment in a Bitcoin ETF shows growing institutional interest.
– IBIT's performance exceeds initial expectations, setting new benchmarks for ETF inflows.
– Consistent net inflows indicate stable demand for Bitcoin ETFs despite market fluctuations.#binance #Bitcoin #Ethereum