Bitcoin ETFs Pull in $755 Million Pushing Bitcoin Price above $100,000

robot
Abstract generation in progress

The 11 Bitcoin ETFs pulled in a staggering $755 million ending three days of consecutive outflows

The Bitcoin ETFs recorded no outflow for the day with inflows playing a key role in pushing Bitcoin price above $100,000 for the first time in a while

Yesterday recorded a serious improvement in investor activity with nine out of the 11 Bitcoin ETFs recording transactions

All nine ETFs involved recorded inflows with no single outflow recorded. This continues the cycle of extreme investor activity detected in both ETF products this year

Farside Investors UK revealed that Fidelity’s FBTC surpassed Blackrock’s IBIT yet again in inflows pulling in $463 million

Ark 21 shares ARKB followed suit with a $138.8 million outflow

Grayscale’s GBTC, Bitwise BITB, and Blackrock’s IBIT recorded inflows below $100 million

The Three funds pulled in $50.5 million, $32.7 million, and $31.7 million respectively

VanEck’s HODL and Grayscale BTC stood in the third category of inflows pulling in $17 million and $13.7 million in inflows

Finally, Investco’s BTCO and Franklin EZBC recorded the least inflow for the day pulling in $4.5 million and $2.9 million

Only Two Bitcoin ETFs recorded no transactions for the day a far cry from the previous days

Bitcoin Price Analysis

Bitcoin surged above $100,000 for the first time in a while yesterday following positive inflation numbers and increased institutional inflows

The Bitcoin ETFs pulled in a staggering $755 million yesterday the highest amount in a week

Bitcoin at the moment is exchanging hands for $99,209 surging by 0.9%. The crypto asset is up approximately 8% on a 7-day scale

Bitcoin’s surge can be attributed to recent Consumer Price Index (CPI) data indicating cooling inflation, suggesting that the Federal Reserve may lower interest rates

Other factors include growing institutional investor inflows as investors increasingly see Bitcoin as a hedge against economic uncertainty

The content is for reference only, not a solicitation or offer. No investment, tax, or legal advice provided. See Disclaimer for more risks disclosure.
  • Reward
  • Comment
  • Share
Comment
0/400
No comments
Trade Crypto Anywhere Anytime
qrCode
Scan to download Gate app
Community
English
  • 简体中文
  • English
  • Tiếng Việt
  • 繁體中文
  • Español
  • Русский
  • Français (Afrique)
  • Português (Portugal)
  • Bahasa Indonesia
  • 日本語
  • بالعربية
  • Українська
  • Português (Brasil)