Spot Bitcoin ETF Brings Market Excitement With $66M In Inflows
Key Points:
- Digital assets attracted $66 million in inflows for the fourth straight week, reaching $179 million over a month thanks to interest in the spot Bitcoin ETF.
- Investors show caution despite positive news, with lower inflows compared to the initial surge following Blackrock’s announcement in June.
In a positive trend for digital asset investment, funds have seen inflows for the fourth consecutive week, accumulating a total of $66 million thanks to market excitement with the spot Bitcoin ETF.
Digital Asset Investments Continue to Surge with Spot Bitcoin ETF News
According to the CoinShare report, over the last four weeks, these inflows have reached an impressive $179 million. This surge comes on the heels of recent price appreciation, propelling total assets under management (AuM) to nearly $33 billion, marking a 15% increase since their lows in early September. This marks the highest point since mid-August.
This dynamic market movement showcases investor appetite for the spot Bitcoin ETF and the explosion of the upcoming uptrend.
Cautious Investor Sentiment Persists Despite Positive
However, it’s worth noting that the recent inflows, while encouraging, are relatively lower compared to the initial surge experienced after Blackrock’s announcement in June, which brought in $807 million over four consecutive weeks. This suggests that investors are proceeding with more caution this time, even with positive news emerging from the Grayscale vs. SEC court ruling.
Of the recent inflows, a significant 84% poured into Bitcoin investment products, pushing year-to-date inflows for Bitcoin to $315 million. It’s worth mentioning that earlier last week, surges in Bitcoin prices prompted inflows into short Bitcoin, which reached $23 million. However, these positions were considerably reduced, resulting in net inflows of just $1.7 million by the end of the week, indicating a loss of confidence among short sellers.
DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Author
Bitcoin
Spot Bitcoin ETF Brings Market Excitement With $66M In Inflows
Key Points:
- Digital assets attracted $66 million in inflows for the fourth straight week, reaching $179 million over a month thanks to interest in the spot Bitcoin ETF.
- Investors show caution despite positive news, with lower inflows compared to the initial surge following Blackrock’s announcement in June.
In a positive trend for digital asset investment, funds have seen inflows for the fourth consecutive week, accumulating a total of $66 million thanks to market excitement with the spot Bitcoin ETF.
Digital Asset Investments Continue to Surge with Spot Bitcoin ETF News
According to the CoinShare report, over the last four weeks, these inflows have reached an impressive $179 million. This surge comes on the heels of recent price appreciation, propelling total assets under management (AuM) to nearly $33 billion, marking a 15% increase since their lows in early September. This marks the highest point since mid-August.
This dynamic market movement showcases investor appetite for the spot Bitcoin ETF and the explosion of the upcoming uptrend.
Cautious Investor Sentiment Persists Despite Positive
However, it’s worth noting that the recent inflows, while encouraging, are relatively lower compared to the initial surge experienced after Blackrock’s announcement in June, which brought in $807 million over four consecutive weeks. This suggests that investors are proceeding with more caution this time, even with positive news emerging from the Grayscale vs. SEC court ruling.
Of the recent inflows, a significant 84% poured into Bitcoin investment products, pushing year-to-date inflows for Bitcoin to $315 million. It’s worth mentioning that earlier last week, surges in Bitcoin prices prompted inflows into short Bitcoin, which reached $23 million. However, these positions were considerably reduced, resulting in net inflows of just $1.7 million by the end of the week, indicating a loss of confidence among short sellers.
DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
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