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News

Spot Bitcoin ETFs Inflows Rebound With $158 Million Net Gain

September 20, 2024 - Around 2 mins mins to read

Key points:

  • U.S. spot bitcoin exchange-traded funds (ETFs) recorded net inflows of $158 million on Thursday, a turnaround from $52 million in net outflows the previous day.
Spot bitcoin ETFs inflows reached $158.21M on Thursday, led by ARKB and FBTC, marking a recovery from the previous day’s $52M outflows, with bitcoin nearing $64,000.
Spot Bitcoin ETFs Inflows Rebound With $158 Million Net Gain

Spot Bitcoin ETFs Inflows Reach $158 Million After Recent Outflows

Spot bitcoin ETFs saw $158.21 million in net inflows on Thursday, rebounding from $52 million in outflows the day before. Leading the inflows were Ark Invest’s ARKB with $81.07 million and Fidelity’s FBTC with $49.88 million. No Bitcoin ETFs saw outflows on the day, according to SoSoValue data.

In total, 12 bitcoin ETFs saw a daily trading volume of $1.44 billion. Since their launch in January, these funds have accumulated $17.60 billion in net inflows, further strengthening the market.

Read more: Spot Bitcoin ETFs Outflows Hit $52.8M, Ending Four-Day Inflow Streak

Bitcoin Price Nears $64,000 as Spot Bitcoin ETFs Recover

Bitcoin rose 2.3% to $63,550, supported by recent macroeconomic developments, including a rate cut by the Federal Reserve. The price increase coincided with increased inflows into spot bitcoin ETFs, reflecting overall market optimism.

This positive move was reinforced by improving risk sentiment across global markets, as seen in tandem with the S&P 500 and Nasdaq. Despite the rally, retail participation remains low, casting doubt on the long-term sustainability of the trend.

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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William

In the fast-paced world of day trading, I've honed my skills for over six years using technical analysis tools and crafting short-term strategies. My expertise isn't from textbooks but from the trenches of online trading communities. I excel at reading chart patterns, applying technical analysis, and mastering risk management. "The market is about probabilities," I declare. As Editor at Coincu, I empower readers with the insights and strategies to conquer the dynamic world of day trading.