ETFs
ETFs accumulate 19 consecutive days of collections! Ibit leads the way!
6:00 p.m. ▪ 3 min reading ▪ by Eddy S.
Bitcoin ETFs continue to attract investors, despite recent fluctuations in the crypto market. BlackRock’s Bitcoin ETF (IBIT) recently took the lead, becoming the largest spot ETF in the United States! Surpassing Grayscale’s Bitcoin Trust (GBTC), after seeing net inflows of $102 million in one trading session.
Bitcoin ETFs are attracting more and more investors!
This positive trend for Bitcoin ETFs has continued for 19 consecutive days, with net inflows of $130.99 million for this Friday, June 7, 2024 alone. BlackRock IBIT was particularly strong over this period, with a net collection of $168 million! While other funds like Ark Invest and 21shares saw more modest inflows.
BlackRock’s IBIT now holds nearly $20 billion in Bitcoin. This reflects growing investor interest in financial products associated with BTC. Additionally, the actions of major ETF operators like IBIT could influence the supply-demand balance, potentially affecting the price trajectory of Bitcoin.
Exchange traded funds are resilient to market fluctuations!
Despite a period of decline in institutional investment in spot Bitcoin ETFs, investor confidence appears to be rebounding. After massive releases a few weeks ago, these influxes over 19 consecutive days marks a return of investor confidence.
Bitcoin technical indicators are also closely watched by traders and analysts. Despite the recent slowdown, the upward trend remains intact. However, key support levels, including exponential moving averages (EMA) on various charts, are now under scrutiny.
In conclusion, Bitcoin ETFs demonstrate remarkable resilience in the face of market fluctuations. With significant net inflows and renewed investor confidence, the future of Bitcoin ETFs looks bright, even in a volatile market environment. The movements of these funds are not just numbers; they represent the growing confidence of investors in the potential of BTC and its associated financial products. Will it be the same for the Newly Approved Ethereum ETFs?
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Eddy S.
The world is evolving and adaptation is the best weapon to survive in this undulating universe. Basically a crypto community manager, I am interested in everything directly or indirectly related to blockchain and its derivatives. In order to share my experience and raise awareness of a field that fascinates me, there is nothing better than writing articles that are informative and relaxed at the same time.
DISCLAIMER
The views, thoughts and opinions expressed in this article belong solely to the author and should not be considered investment advice. Do your own research before making any investment decisions.