Yesterday, Bitcoin’s price saw a modest recovery, moving from $59,000 to $62,000. When the price of Bitcoin goes, there are usually significant inflows into spot Bitcoin ETFs. Conversely, when the price drops, outflows occur Let’s delve into the details.
Spot Bitcoin ETFs Experience Inflows of $31 MillionIn analyzing data from SoSoValueu, we observed outflows from two ETFs. The largest outflow originated from Grayscale’s Bitcoin ETF (GBTC), amounting to $30 million. The second outflow came from ArkInvest’s Bitcoin (ARKB), totaling $6 million.
On the other hand, yesterday saw infl of $31.01 million in spot Bitcoin ETFs. Fidelity’s spot Bitcoin (FBTC) led with an inflow of $49 million while Bitwise’s spot Bitcoin (BITB) followed with an inflow of $15 million.
The day also marked an end to the seven-day period of outflows in the Bitcoin ETF sector.
Regarding cryptocurrencies as a whole, at present BTC is trading at $61,380 and Ethereum has risen to reach a value of 3$376 after dropping to a monthly low of 3$240.
Other notable cryptocurrency prices Binance Coin (BNB) trading at 574$ and Solana priced at 136$. It should be noted that investment decisions regarding cryptocurrencies should be made meticulously due to their high volatility and inherent risk.