0
0
The twelve actively traded U.S. bitcoin ETFs concluded their last business day on Wednesday with a massive $757 million inflow, according to data from Sosovalue, a U.S.-based crypto exchange-traded funds (ETFs) flow tracker.
Notably, this marks the best business day for these investment funds, whose values are tied to the price of BTC, the worldâs leading cryptocurrency. The last time the ETFs recorded such massive inflows was on July 16, when the day ended with $799.4 million in inflows.
Sosovalue reveals that the leading ETF of the day was Fidelityâs FBTC, which is listed on the Cboe. FBTC amassed approximately $299 million. This marks one of the few ETF business days when another fund recorded more inflows than BlackRockâs IBIT. Well, the day was not entirely bad for IBIT as it amassed $211.2 million.
Another significant contributor to the bullish day was the Ark 21Shares ARKB, which recorded $ 45.1 million in inflows. This figure covers nearly 20% of Wednesdayâs inflows. Trailing ARKB was Bitwiseâs BITB, which took in only $44.4 million.
Other ETFs, including Grayscaleâs GBTC and mini BTC, Franklin Templetonâs EZBC, VanEckâs HODL, and Valkyrieâs BRRR, accounted for the rest of the dayâs inflows. This leaves only WisdomTreeâs BTCW, Invescoâs BTCO, and Hashdex DEFI with no market movement throughout the day.
Meanwhile, due to the increasing demand for bitcoin ETFs, BlackRock has surpassed crypto exchanges like Binance and Coinbase to become the worldâs largest known bitcoin holder. BlackRock sits as the worldâs leading BTC ETF issuer with over $59 billion in total market inflows.Â
Amid the massive ETF inflow day, bitcoin witnessed a surge past the $144,000 mark. The apex coin formed a daily âgod candleâ, pushing its value from $111,000 to $114,300 in a day. The coin has broken the psychological resistance lying in that area to surpass its 17-day high.
According to further analysis, the apex coin is on track to continue its uptrend, although on-chain data reveals that investors are not yet fully confident. Data from CoinMarketCap also shows that the market fear and greed index (FGI) lies around 47% signaling a neutral outlook as investors await further confirmation before going fully bullish on the market.Â
The post Spot Bitcoin ETFs Record $757M Inflows as BTC Reclaims $114k appeared first on Cointab.
0
0
Manage all your crypto, NFT and DeFi from one placeSecurely connect the portfolio youâre using to start.
0
0
