On Tuesday, US Bitcoin ETFs recorded net inflows of $187 million, extending their positive run to four days.
Continued Growth
On Tuesday, US Bitcoin ETFs registered net inflows of $186.8 million, extending their positive streak to four days, totaling over half a billion dollars.
Impact of Major Players
BlackRock’s IBIT ETF generated positive flows for the first time in three weeks on Monday but returned to zero flows on Tuesday as Fidelity’s FBTC dominated net inflows, bringing in $56.6 million, according to data from CoinGlass. Bitwise’s BITB and Ark Invest’s ARKB ranked second and third for the day, attracting $45.4 million and $42.2 million in net inflows, respectively. VanEck’s HODL recorded $20.5 million in positive flows, while Invesco’s BTCO brought in $10.2 million, Franklin Templeton’s EZBC $8.7 million, and WisdomTree’s BTCW $3.2 million.
Prospects and Conclusions
With interest rate cuts anticipated, Bitcoin is holding the $60,000 level ahead of Wednesday’s critical FOMC meeting. From Aug. 27 to Sept. 6, spot Bitcoin ETFs had a record run of consecutive daily net outflows, totaling nearly $1.2 billion. However, they have produced $603.5 million worth of positive flows since and have generated nearly $17.5 billion in total net inflows since trading began in January. Quote: "Looks like another ~$200 million was put into spot Bitcoin ETFs on a random Tuesday... 8 months after launch," commented The ETF Store President Nate Geraci.
The growing interest in spot Bitcoin ETFs and significant investments highlight the importance of this financial instrument in the market. It's crucial to monitor the continuity of these trends and their impact on the overall cryptocurrency market.
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