Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesCopyBotsEarn
US spot Bitcoin ETFs log highest inflow day since June, two-month high in total value

US spot Bitcoin ETFs log highest inflow day since June, two-month high in total value

The BlockThe Block2024/09/28 18:33
By:Zack Abrams

Following a seven trading day streak of inflows and bolstered by the rising price of Bitcoin, the total assets held by US-based spot Bitcoin ETFs has reached a two-month high.Friday also marked the largest inflows to the funds since early June, a nearly four-month high.

US-based spot bitcoin exchange-traded funds have extended their inflow streak to seven straight trading days, with Friday's inflows marking the largest single-day intake since early June, a nearly four-month high. 

Following the streak, the ETFs have achieved a two-month high in terms of total asset value, with $61.21 billion worth of bitcoin currently being held by the twelve funds currently available for trading. 

On Friday, the funds saw a daily total net inflow of $494.27 million, according to SoSoValue data , led by a $203.1 million inflow to Ark and 21Shares' ARKB fund. Fidelity's FBTC logged the second-highest inflow, with $123.6 million, followed close behind by BlackRock's IBIT fund, with $110.8 million in inflows on Friday. 

Also recording inflows were Grayscale's GBTC with $26.1 million, Bitwise's BITB with $12.9 million, VanEck's HODL with $11.1 million, Invesco's BTCO with $3.3 million, and Valkyrie's BRRR with about $3.3 million as well. The four remaining funds saw no significant inflows nor outflows. 

The daily total inflow of $494.27 million was the highest single-day intake for the funds since June 4, when the funds saw $886.75 million in inflows. The total net asset value of the funds, $61.21 billion, is the highest value recorded since July 29, when the total net asset value was $61.73 billion, according to SoSoValue data. 

The U.S. Securities and Exchange Commission's recent approval of BlackRock's proposal to list and trade options for its spot Bitcoin BTC +0.19% ETF has led some analysts to predict a "flurry" of new filings , though others have turned a critical eye towards the potential effects of more "paper" Bitcoin on the demand for underlying asset . 


0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Locked for new tokens.
APR up to 10%. Always on, always get airdrop.
Lock now!

You may also like

ARK Invest CEO Cathie Wood Shares New Predictions for Bitcoin Price After Record Highs

Famous investor Cathie Wood talked about new records in Bitcoin prices in her live interview.

Bitcoinsistemi2024/11/16 14:11

Famous Analyst Made a Crazy Prediction for Cardano (ADA) Price: Sets a Date

Cryptocurrency analyst Ali Martinez made an unbelievable prediction for the Cardano (ADA) price in his statement.

Bitcoinsistemi2024/11/16 14:11

Unbelievable Cryptocurrency Scam in Ankara! One Person's 38 Million TL Vanished!

According to AA, a businessman in Ankara was defrauded of 38 million liras with spyware by fraudsters who introduced themselves as cryptocurrency exchange officials.

Bitcoinsistemi2024/11/16 14:00