👀👀Which Bitcoin ETFs Are Investors Turning To? 👀👀
Yesterday's rise in Bitcoin price had a significant impact on spot Bitcoin ETFs. This can be an important indicator to better understand cryptocurrency market fluctuations and investor behavior. Now, let's examine yesterday's entries and exits for different spot Bitcoin ETFs.
BlackRock's spot Bitcoin ETF, called IBIT, is traded on the NASDAQ exchange and attracted investors' attention yesterday with a net inflow of $23.16 million. BlackRock is currently the leader in the spot Bitcoin ETFs space. Fidelity's spot Bitcoin ETF named FBTC had a net inflow of $4.45 million yesterday. Although this rate is lower compared to the IBIT fund, it still stands out as a remarkable investment tool.
Bitwise's spot Bitcoin ETF named BITB is listed on the NYSE and recorded an inflow of $31.41 million yesterday. This ETF recorded the highest amount of inflows in yesterday's trading. VanEck's HOD ETF also attracted investments of $19.18 million.
On the other hand, net outflows continue in Grayscale's GBTC ETF. GBTC, the once leading spot Bitcoin ETF, is traded on the NYSE and experienced an outflow of $26.55 million yesterday. These outflows show that investors are looking for alternatives and that high transaction costs are also an important factor.
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