Hi Guys,
It's Big & Big #alert About $BTC Daily Inflow !!!
Bitwise Powers Spot BTC ETF Market With $11.5409 Million Net Daily Inflow
The net inflow of Bitcoin spot Exchange Trust Fund (ETF) on May 8, 2024, was $11.5409 million. Citing Soso Valueâs data, famous blockchain and crypto journalist Colin Wu noted that the Grayscale GBTC had no inflows or outflows on the day.
Wu highlighted that Bitwise BITB was responsible for the single-day net inflow of $11.5409 million.
On May 8, the total net inflow of Bitcoin spot ETF was $11.5409 million. Grayscale ETF GBTC has no inflows and outflows.
Bitwise ETF BITB saw a single-day net inflow of $11.5409 million. The total net asset value of Bitcoin spot ETFs is $51.504 billion.Â
With last Wednesdayâs net inflow, Bitcoin spot ETFsâ total net asset value rose to $51.504 billion, according to data from the spot Bitcoin ETF aggregation platform, Soso Value.
Further details from the platform show that Grayscale maintained the top position in total net assets, despite recording a cumulative outflow of $17 billion.
Soso Valueâs data reveal an $18.14 billion in the Grayscale GBTC net assets. BlackRockâs IBIT follows closely with an accumulation of $17.08 billion in net assets, while Fidelity completes the top three ETFs in net assets with a value of $9.52 billion.
In a rare situation, a daily increase in the net spot Bitcoin daily inflow did not correlate with the Bitcoin price movement. While the ETF net inflow increased by over $11 million, Bitcoinâs price dropped.
The flagship cryptocurrency fell from a daily high of $62,996 to a $61,124 low, reflecting a 3.46% drop, according to data from TradingView.
Last Wednesdayâs Bitcoin price movement reflected the fading momentum in Bitcoinâs strength that saw the pioneer crypto close below its opening price for three consecutive days.
The recent move saw BTC, which started the week by rallying to $65,513, lose about 6.5% of its value at the close of Wednesdayâs trading session.