U.S. Spot Bitcoin exchangeThe second highest daily inflow for exchange-traded fund (ETFs), with over $886 millions, was seen on Tuesday. The funds have now seen their largest daily haul since March.
NEW: 🇺🇸 #Bitcoin The ETFs experienced $886 millions in inflows on the 16th day in a row.
It’s so good to be back🙌 pic.twitter.com/Er2KDgXr9E
— Bitcoin Magazine (@BitcoinMagazine) June 5, 2024
ETFs now have 16 days in a row of net new money, sparking speculation about the possibility of an influx of funds. “second wave” Demand is a demand. Fidelity’s Wise Origin Bitcoin Fund topped the list of inflows, with $378.7 millions. BlackRock’s iShares Bitcoin Trust was second at $274.4.
The total amount of the spot Bitcoin ETFs BTC worth over $60 billion is currently held. Analysts attribute the recent wave of BTC inflows to renewed institutional interest, as well as Bitcoin’s resurgence above $75,000 and its price.
The funds have seen their highest daily income since the 12th of March, when they received a record-breaking $1.04billion. It’s the highest daily intake for these funds since March 12, when they took in a record $1,04 billion. next Bitcoin reached an all-time record high of $73,679 on the same day. This shows the impact that the inflows could have.
You can also find out more about the following: Grayscale Bitcoin Trust Also, a $28,2 million inflow was recorded on a single day. This is the only time since January when the ETF switched to spot trading that this has happened. The renewed excitement is due to the recent inflow of funds despite the loss for much of the year.
The infrastructure of institutional Bitcoin investments continues to mature as major companies like Fidelity, BlackRock and others hold tens or hundreds of millions in assets.
This is the latest wave of inflow Australia, the U.K.” Thailand’s Recent approval and listing by the SEC of Bitcoin-regulated fund. Bitcoin ETFs continue to attract capital as global regulation continues to improve.
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Source: bitcoinmagazine.com