Crypto NewsBitcoinBitcoin ETFs Break Five-Day Breakout Trend! Fidelity Accelerated Acquisitions!

Bitcoin ETFs Break Five-Day Breakout Trend! Fidelity Accelerated Acquisitions!

Bitcoin (BTC) exchange-traded funds (ETFs) experienced total inflows of $15.4 million, ending a streak of five consecutive days of outflows.

Follow Bitcoin Sistemi Google News Button

Nasdaq-listed spot Bitcoin (BTC) exchange-traded funds (ETFs) experienced total inflows of $15.4 million on Monday amid a notable shift in investor sentiment, breaking a streak of five consecutive days of outflows, according to provisional data released by investment firm Farside. ended.

Bitcoin ETFs See $15.4 Million Inflows, Breaking Five-Day Outflow Trend

Fidelity's FBTC led the inflows with $261.8 million, followed by BlackRock's IBIT with $35.5 million. Other funds, including BITB, BTCO, EZBC and BRRR, also saw healthy inflows, ranging from $11 million to $20 million each.

However, Grayscale's ETF (GBTC) continued to witness a decline in assets, losing just over $350 million in assets during this period.

The positive inflows mark a reversal from the significant outflows totaling $887.6 million observed in ETFs last week, primarily caused by significant withdrawals from GBTC.

The emergence of nearly a dozen spot ETFs in the US on January 11 has provided investors with a convenient way to gain exposure to the leading cryptocurrency, bypassing the complexities involved in directly owning and storing digital assets.

Related News  The Crisis Between Binance and Nigeria Grows! Another Accusation Made Against Binance!

Unlike futures-based ETFs, which launched in October 2021 and require position rollover, spot ETFs invest directly in Bitcoin.

Markus Thielen, founder of 10x Research, shared his views suggesting that quarter-end flows could have a stronger impact than usual and potentially push the Bitcoin price to new highs.

“With Bitcoin rising above $70,000, we can consider Tuesday's flows to be positive again.

“By quarter-end, flows may be stronger than usual,” Thielen added, underlining the potential impact of quarterly dynamics on Bitcoin's price trajectory.

*This is not investment advice.



Buradaki Yorumlardan Bildirim Al
Bildir
guest

0 Comments
Latest
The oldest Top Rated
Inline Feedbacks
View all comments

Popular Posts of the Week