On Thursday, Bitcoin ETFs in the US registered positive inflows of $39.02 million, despite negative flows the day before.
Bitcoin ETFs Show Positive Inflows
The ARKB fund, managed by Ark & 21Shares, saw the largest net inflow of $18.34 million. Fidelity's FBTC fund received $11.47 million, while Grayscale's Bitcoin Mini Trust attracted $5.18 million. VanEck and Franklin Templeton funds increased by $4.95 million and $3.38 million, respectively, while Bitwise's BITB had positive inflows of $2.22 million. However, the Grayscale Fund continued to lose money with outflows totaling $6.51 million.
Trading Volume and Overall Flows
The daily trading volume for the 12 Bitcoin ETFs significantly dropped from $1.27 billion the previous day to $896.92 million. Since their launch in January, the net inflows into Bitcoin funds total $17.03 billion. Meanwhile, US-based spot Ethereum ETFs experienced a net outflow of $20.14 million for the second consecutive day.
Upcoming Financial Market Event
The next major event for investors will be the FOMC meeting next week. It is estimated that there is a 57% chance that the Federal Reserve will cut rates by 25 basis points and a 43% chance of a 50 basis points reduction.
The ARKB fund showed recovery after negative flows, while the Grayscale Fund continues to experience outflows. The upcoming FOMC meeting will be a crucial factor that might influence future movements in exchange-traded funds.
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