US spot bitcoin ETFs top $30 billion in cumulative inflows as BTC nears $100,000
Quick Take The cumulative net inflow total of spot bitcoin ETFs crossed the $30 billion mark for the first time. The funds raked in over $1 billion in a single day today for the third time. Bitcoin is now trading above $99,300.
U.S. spot bitcoin exchange-traded funds have reached over $30 billion in cumulative total net inflow for the first time since launching in January.
The bitcoin ETFs have seen elevated amounts of trade volume and net inflows amid bullish market sentiment following the re-election of former president Donald Trump. The funds saw their total net asset value surpass the $100 billion milestone on Wednesday.
On Thursday, the 12 bitcoin ETFs reported a total daily net inflow of $1 billion, which brought the cumulative total flow to $30.35 billion, according to data from SoSoValue.
BlackRock’s IBIT led the pack of inflows with $608.41 million, followed by $300.95 million into Fidelity’s FBTC. Bitwise’s spot bitcoin fund drew in $68 million, and Ark and 21Shares’ ARKB recorded $17 million. Grayscale’s Mini Bitcoin Trust, and bitcoin ETFs from VanEck and Franklin Templeton also added net inflows.
Grayscale’s GBTC was the only fund yesterday with negative flows, recording net outflows of $7.8 million. The four other funds saw zero flows for the day. The 12 ETFs altogether traded $7.1 billion yesterday.
Bitcoin's relentless rally has pushed it to new all-time highs, and it's now aiming for the highly anticipated $100,000 price level. It gained 2% in the past 24 hours to trade at $99,320 at the time of writing.
Meanwhile, spot Ethereum ETFs in the U.S. saw $9.05 million in net outflows on Thursday, extending their streak of negative flows to six days. The nine ether ETFs saw a total trading volume of $839.64 million yesterday.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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