🔥🔥🔥 US spot #BitcoinETFs draw in $39 million, $BTC hovers around $58,000
Spot Bitcoin exchange-traded funds (ETFs) in the U.S. recorded net inflows of $39.02 million on Thursday, rebounding from the previous day’s outflows.
- According to data from SoSoValue, the largest inflows were seen by Ark Invest and 21Shares’ ARKB, which received $18.34 million. Fidelity’s FBTC posted $11.47 million in net inflows, while Grayscale’s Bitcoin Mini Trust attracted $5.18 million. Smaller inflows were recorded by VanEck’s HODL with $4.95 million and Franklin Templeton’s Bitcoin fund with $3.38 million. Bitwise’s BITB also saw positive flows of $2.22 million.
- Meanwhile, Grayscale’s GBTC was the only spot Bitcoin ETF to experience outflows, with $6.51 million leaving the fund. The remaining five Bitcoin ETFs, including #BlackRock’s IBIT, had zero flows on Thursday. IBIT, the largest spot Bitcoin ETF by net assets, has not seen net inflows since August 27.
- The 12 Bitcoin ETFs registered a daily trading volume of $896.92 million on Thursday, down from $1.27 billion the previous day. Since their January launch, these funds have accumulated $17.03 billion in net inflows.
Grayscale's #EtherETF Leads Outflows
- U.S. spot Ethereum ETFs saw $20.14 million in net outflows on Thursday, all from Grayscale’s ETHE. Total daily trading volume fell to $106.14 million from $126.22 million, with cumulative outflows reaching $582.74 million.
Bitcoin Price and Market Overview
- Bitcoin’s price hovered around $58,000, falling 0.6% to approximately $57,909. Bitcoin had dipped below $53,000 following weak U.S. non-farm payroll data last Friday but has since recovered due to the U.S. election debate and the release of consumer price data on Wednesday.
- Investors are eyeing next week’s FOMC meeting, with CME's FedWatch Tool indicating a 57% chance of a 25 basis-point cut and a 43% chance of a 50 basis-point cut.
Source - theblock.co
