Spot Bitcoin ETF Attracts $1.7 Billion in Funds in Four Days
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According to SoSoValue data, Bitcoin Exchange-Traded Funds (ETFs) attracted $1.7 billion in inflows over the first four trading days of this year. Notably, on Tuesday, the ETF products saw a net inflow of $52.4 million.
Key Performance:
BlackRock's iShares Bitcoin Trust ETF (IBIT) became the only ETF to increase, attracting $596 million in funds that day, marking its most successful day to date.
However, other ETFs performed significantly weaker:
ARK 21Shares Bitcoin ETF (ARKB) lost $212 million.
Grayscale Bitcoin Trust ETF (GBTC) and Bitwise Bitcoin ETF (BITB) recorded outflows of $125 million and $114 million, respectively.
Market Impact
Despite the inflows into the Bitcoin ETFs, the price of Bitcoin fell to $95,259 after U.S. economic data raised inflation concerns, plummeting nearly 6%. Meanwhile, altcoins suffered even greater hits, and overall market sentiment turned cautious.
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