BREAKING: Bitcoin Spot ETFs Witness Second Largest Single-Day Net Inflow in History, Pushing BTC Price Back Above $71,000
Bitcoin spot ETFs in the U.S. recorded a massive $880 million inflow in one day, marking a historic financial movement. The significant investment surge pushed Bitcoin’s value back above the $71,000 mark during a bullish market trend. Highlighting a robust 3% increase within 24 hours, Bitcoin ETFs in the U.S. have experienced a historic surge [...]
- Bitcoin spot ETFs in the U.S. recorded a massive $880 million inflow in one day, marking a historic financial movement.
- The significant investment surge pushed Bitcoin’s value back above the $71,000 mark during a bullish market trend.
Highlighting a robust 3% increase within 24 hours, Bitcoin ETFs in the U.S. have experienced a historic surge in investments. A single day brought a record-breaking inflow of $880 million, marking this as the second-largest single-day net inflow ever recorded. Following this significant influx, Bitcoin’s price soared past $71,000 during peak trading hours in Asia.
Accelerated Growth and Investor Confidence
The CoinDesk 20 index shows a 2.65% rise in major cryptocurrency tokens. Leading this surge, Fidelity’s FBTC ETF attracted $378 million, significantly ahead of BlackRock’s IBIT and Grayscale’s GBTC. The recent U.S. approval of an ether spot ETF further boosted this trend, with a total of $3.3 billion flowing into Bitcoin ETFs last month.
This has pushed year-to-date investments over $15 billion, driven by positive market trends and optimism from the U.S. presidential campaign. For more details, watch Today’s CNF YouTube video here.
Expert Insights and Market Outlook
Blockchain expert Collin Brown highlighted this significant market movement in a recent tweet, noting the substantial inflows into top ETFs such as Fidelity, IBIT, ARKB, BITB, GBTC, and HODL. The total net asset value of BTC spot ETFs now stands at an impressive $61.46 billion.
BREAKING: #Bitcoin spot ETFs experienced a massive inflow of $887 million on June 4, marking the second highest single-day net inflow in history and pushing #BTC price back above $71,000. Here's a breakdown of the inflows for the top ETFs:
Fidelity: +$378.7MM
— Collin Brown (@CollinBrownXRP) June 5, 2024
Bloomberg analyst Eric Balchunas pointed out that the ETFs have accumulated $3.3 billion in recent weeks, with a year-to-date net surpassing $15 billion. This increased activity follows shortly after the U.S. approved an ether (ETH) spot ETF and amid a generally positive outlook for cryptocurrencies from the ongoing U.S. presidential campaign.
After a period of mixed performances from mid-April to early May, the market sentiment has shifted significantly, as evidenced by the robust inflow data.
This arrangement ensures that the YouTube video is mentioned in the context of investor confidence in the second paragraph, and the tweet from Collin Brown is featured in the third paragraph, where it contextualizes the expert insights and market trends.
Market Insights and Future Outlook
In related news from CNF, Grayscale recently launched a Bitcoin Mini ETF featuring an innovative low fee of 0.15%. This development raises questions about whether such strategic fee adjustments can drive Bitcoin’s price to the $80,000 mark.
Currently, Bitcoin is trading at $70,954.54, experiencing a growth of 3.33% over the past day and an increase of 4.86% over the past week. For visual representation and further analysis, refer to the accompanying chart below.
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