News

Spot Bitcoin ETFs Inflows Rebound With $158 Million Net Gain

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 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.

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.

Recent Posts

Best Cryptos to Buy in December 2024: Qubetics Presale Goes Ballistic as Ethereum and Quant Look to Build Momentum

Best Cryptos to Buy in December 2024: Qubetics ($TICS) presale explodes, Ethereum (ETH) eyes a…

3 hours ago

USDC and CCTP to launch on Aptos, with Stripe adding Aptos support in crypto products

Palo Alto, California, 21st November 2024, Chainwire

5 hours ago

Best Cryptos to Buy: Qubetics Set to Rise, Bitcoin Knocks at $100k Milestone, Avalanche to Release 1.67M Tokens

Best Cryptos to Buy: Qubetics presale rockets ahead, Bitcoin nears $100k, and Avalanche prepares to…

5 hours ago

Ike Goes Live on Mainnet: Unlocking Liquid Staking on Aleph Zero

London, United Kingdom, 21st November 2024, Chainwire

6 hours ago

Native USDC on Aptos Coming Soon to Boost DeFi and P2P Transactions

The move will see developers utilize USDC on Aptos in creating dApps on a wide…

6 hours ago

Coinshift Launches csUSDL, Announces Strategic Partnerships

Abu Dhabi, UAE, 21st November 2024, Chainwire

7 hours ago

This website uses cookies.