Spot Bitcoin exchange traded funds rake in $31.64M

In the US, spot Bitcoin traded funds experienced three continuous days of net inflows, raking $31.64 million. This is as per SosoValue data. This fortunate increase in Bitcoin funds came five days after the outflow, which paved the way for Bitccoin’s activity. 

According to the observations made by Grayscale’s GBTC, there was a recent outflow to the tune of $66.88 million, whereas, in the case of BlackRock, spot Bitcoin ETFs managed to rake in $37.92 million in terms of net inflows. This is the biggest ever daily net inflow about the spot Bitcoin ETFs. The fund belonging to Ark Invest managed to rake in $33.28 million, along with Bitwise reaching the figure of $22.23 million in net inflows. 

From the time of their initiation in January, in the US, spot Bitcoin ETFs have been able to amass the figure of $12.42 billion in the form of total net inflow. The net assets, on the other hand, reached $55.82 billion. 

In the case of Grayscale, its ETF has witnessed $16.83 billion being shifted from the fund after conversion, whereas its net outflows have seen a downward slide compared to a couple of weeks back. The previous week witnessed more than $2 Billion shifted out of GBTC. 

In the meantime, the IBIT of BlackRock, which had experienced seventy continuous days of net inflows till very recently, has a collective net inflow of $15.48 billion. 

The pricing of Bitcoin went upwards by 0.16% during the last one day, reaching the figure of $66.675. This is as per the figures mentioned in The Block’s Price page.

Roxanne Williams

Roxanne Williams has recently joined as a market reporter for CryptoNewsZ - the 24/7 crypto news site, where she produces recent stories, technical analysis and price updates on world's leading cryptocurrencies.

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