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US Spot Bitcoin ETFs See $39 Million Net Inflows on Thursday

US Spot Bitcoin ETFs See $39 Million Net Inflows on Thursday

  • Ark and 21Shares ARKB had the most net inflows yesterday, with $18.34 million.
  • Thursday saw a decrease in the daily trading volume of the 12 bitcoin ETFs.

On Thursday, after recording negative flows the previous day, spot bitcoin exchange-traded funds in the US experienced daily net inflows of $39.02 million.

Ark and 21Shares ARKB had the most net inflows yesterday, with $18.34 million flowing into the fund, according to SoSoValue statistics. Net inflows to Fidelitys FBTC were $11.47 million, while to Grayscales Bitcoin Mini Trust they were $5.18 million.

The fund managed by VanEck received $4.95 million, while the bitcoin fund managed by Franklin Templeton received $3.38 million. Positive flows of $2.22 million were also recorded by Bitwises BITB.

Grayscale Fund Continues to Bleed

Out of all the spot bitcoin ETFs, only Grayscales GBTC had outflows of 6.51 million. Thursday saw no trading activity in the other five bitcoin ETFs, including IBIT, which is owned by BlackRock. Net inflows to the biggest spot bitcoin ETF (based on net assets), IBIT, have been nonexistent since August 27.

Thursday saw a decrease in the daily trading volume of the 12 bitcoin ETFs, falling from $1.27 billion the previous day to $896.92 million. The net inflows to the bitcoin funds since their start in January amount to $17.03 billion.

A net outflow of $20.14 million was recorded from U.S-based spot Ethereum ETFs for the second day in a row. On Thursday, the eight other ether funds had no flows, but Grayscales ETHE accounted for the whole daily net outflows.

The FOMC meeting next week is the next big event for investors. According to the FedWatch Tool by CME Group, there is a 57% probability that the Fed will cut rates by 25 basis points, and a 43% probability that they will cut rates by 50 basis points.

Highlighted News Today:

MicroStrategy Expands Bitcoin Holdings with $1.11 Billion Purchase

Read more: https://thenewscrypto.com/us-spot-bitcoin-etfs-see-39-million-net-inflows-on-thursday/

Text source: TheNewsCrypto – Blockchain & Cryptocurrency News M

Disclaimer: Financial information and news are not financial advice, read the disclaimer.
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