Spot Bitcoin ETFs in the U.S. gain $45 million

sevval08/08/20241 Mins read239

Spot Bitcoin Etfs In The U.s. Gain $45 Million

Spot Bitcoin ETFs saw an inflow of $45 million, contrasted by $23 million in outflows from Ether ETFs

Spot Bitcoin ETFs– On Wednesday, spot Bitcoin exchange-traded funds (ETFs) in the U.S. saw a return to positive flows, reporting net inflows of $45.14 million. This follows a recent outflow of approximately $554 million from these ETFs over the past three trading days.

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Data from SoSoValue indicates that BlackRock’s IBIT led the inflows with $52.52 million on Wednesday. WisdomTree’s BTCW saw its largest net inflow to date, adding $10.5 million. Grayscale’s Bitcoin Mini Trust increased by $9.71 million, and Bitwise’s BITB recorded $3 million in net inflows.

Conversely, Grayscale’s converted GBTC fund was the sole Bitcoin ETF to experience net outflows on Wednesday, with $30.58 million exiting. Seven other funds, including Fidelity’s FBTC and VanEck’s HODL, reported no flows for the day.

Overall trading volume for spot Bitcoin ETFs reached $1.79 billion on Wednesday, down from $2.2 billion the previous day. Since their launch in January, the 12 funds have collectively accumulated a total net inflow of $17.23 billion.

Ethereum ETFs Experience $23.68 Million in Net Outflows

Spot Ethereum ETFs shifted to net outflows on Wednesday, with $23.68 million leaving the funds. Grayscale’s ETHE led the outflows with $31.86 million, while Fidelity’s FETH recorded a $4.7 million inflow. Spot ether funds from Bitwise and Franklin Templeton also saw net inflows.

The total daily trading volume for ether ETFs was $322.85 million. Since their listing on July 23, these funds have accumulated $387.35 million in net outflows.

FAQs

What are Spot Bitcoin ETFs?

Spot Bitcoin ETFs are exchange-traded funds that invest directly in Bitcoin. They aim to track the price of Bitcoin and offer investors a way to gain exposure to the cryptocurrency without needing to hold it directly.

How much did Spot Bitcoin ETFs gain recently?

Spot Bitcoin ETFs in the U.S. reported a net inflow of $45.14 million recently.

For the latest in crypto updates, keep tabs on Crypto Data Space.

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sevval

Şevval has been actively writing since 2022 and is a third-year mathematics student at Ankara University. Her interest in writing is shaped particularly around innovative technologies such as Web3, artificial intelligence, and blockchain. She closely follows developments in these fields and aims to convey complex topics to readers in a clear and engaging manner. She enjoys combining her mathematical knowledge with technology to create content and strives to raise awareness about the digital world of the future.