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HomeStore of ValueBitcoin Spot ETFs Hit $15.3B Amid 17-Day Inflow

Bitcoin Spot ETFs Hit $15.3B Amid 17-Day Inflow

Bitcoin ETFs See Uninterrupted Inflows for 17 Days

Bitcoin Spot ETFs See Significant Net Inflows, Ethereum Lags Behind
Bitcoin spot exchange-traded funds (ETFs) have continued to attract significant investment, with a notable $488 million in inflows recorded on June 5. This trend marks the 17th consecutive day of positive inflows, bringing the total historical cumulative net inflow to an impressive $15.338 billion. Leading the charge were individual ETFs such as Grayscale’s GBTC, Fidelity’s FBTC, BlackRock’s IBIT, and Ark Invest’s ARKB, with inflows of $14.5802 million, $221 million, $155 million, and $71 million respectively.
The surge in investments into Bitcoin ETFs, as reported by QCP Capital, aligns with an optimistic outlook in the cryptocurrency market. This optimism is fueled by factors such as an unexpectedly low jobless claims report and the anticipation of the Consumer Price Index (CPI) release, which could potentially trigger a new all-time high for Bitcoin. Additionally, the market is speculating on potential rate cuts, adding further momentum to the rally.
Despite Bitcoin’s strong performance, Ethereum has lagged behind, with SEC Chair Gary Gensler indicating that the approval process for Ethereum spot ETFs will take some time. This anticipated delay is expected to keep Ethereum’s short-term performance subdued compared to Bitcoin. However, analysts at QCP Capital suggest that Ethereum will eventually outperform Bitcoin once the ETF starts trading and recommend accumulating Ethereum at a discount now for future price appreciation.
These developments in the digital asset market will be a focal point at the upcoming Benzinga Future of Digital Assets event on November 19, as the sector continues to evolve.

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