Spot Bitcoin ETFs net inflow approaches $3b

2024-01-18 05:12:47

Net inflows into spot Bitcoin (BTC) ETFs on the fourth day after launch approached $3 billion.

According to BitMEX Research data released on Jan. 18, 4-day net inflows into Bitcoin spot ETFs (excluding GBTC) totaled $2.9 billion. Among these 11 ETFs, BlackRock, Fidelity, and Bitwise eclipsed the list of inflows, ranking among the top three ETF service providers in the trade sphere. The Fund received $1.085 billion, $884 million, and $375, respectively.

At the same time, according to another report published later, in four days, the GBTC fund attracted $458 million and $1.6 billion of outflow.

Additionally, trading market charts showed a growing rise in the popularity of ETFs following their inception, coinciding with a drop in cryptocurrency market capitalization and a surge in ETF inflows.

Meanwhile, as Bitcoin ETFs continue to gain traction, the price of BTC traded sideways throughout the week, contrasting with market sentiment following the ETF’s recent approval by the U.S. Securities and Exchange Commission (SEC).

At the time of writing, the price of Bitcoin has recorded a slight fall of 0.60% over the last 24 hours and is currently trading at $42,410. However, the price chart over the past week shows that Bitcoin has fallen by 10.4%.

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