Bitcoin ETF Investors Bought the Dip
After a July 4 break, U.S. traders saw Bitcoin plummet over 10% to below $54,000 early Friday. Despite the plunge, U.S.-based spot Bitcoin ETFs recorded $143.1 million in net inflows, the highest in two weeks.
Leading the inflows was Fidelity's Wise Origin Bitcoin Fund with $117.4 million. Other ETFs like Bitwise, ARK/21 Shares, and VanEck also saw gains. Conversely, the Grayscale Bitcoin Trust continued to lose assets.
Bitcoin recovered modestly to $56,800 but remains 6% down from last week and 23% below its all-time high in March. The decline is linked to the return of 140,000 bitcoins from Mt. Gox and the potential sale of bitcoins by the German government.
âĄïžDont Forget To Like, Comment, Share & Follow Meâ
