Investor confidence in Spot Bitcoin Exchange-Traded Funds in the United States has increased as cumulative net flows reach an all-time record.
The following is a list of data Spot Bitcoin is provided by Farside Investors (BTC) ETFs recorded a net inflow of $202.6 million on Aug. 26. Net inflows for investment products exceeded $18 billion.
Alvin K Kan, COO of Bitget Wallet told crypto.news “investors are likely turning to more stable assets.”
“The trend reflects investors’ confidence in Bitcoin, which will help drive the price of Bitcoin and the stability of the market in the longer run.”
Alvin Kan, COO at Bitget Wallet talking about the spot BTC ETFs inflows.
BlackRock IBIT was the source of most inflows ($224.1 million). Farside Investors reports that Franklin Templeton EZBC’s BTCW and WisdomTree BTCW’s inflows were $5.5 million each.
Bitwise’s BITB and Fidelity FBTC saw outflows of $16.6, $8.3 and $7.2 million. Other spot BTC ETFs have remained neutral.
The asset has fallen by 1.3% over the last 24 hours, and currently trades at $63,000.
The Chief Operating Officer of Bitget WalletThis is a former name of BitKeep. It believes BTC’s positive momentum depends largely on the U.S. Federal Reserve’s rate reductions. It could help to make the market more stable. “fully active,” He also added.
“In the short term, the Federal Reserve’s announcement of potential rate cuts could lead to increased market liquidity, a shift in investor behavior towards riskier assets, and potential volatility due to ongoing geopolitical tensions.”
Alvin Kan is the CEO of Bitget Wallet and he told Crypto.news.
Bitcoin ETFs Ethereum has been growing in popularity (ETHYesterday was the eighth consecutive net-outflow day for ETFs. Data from Farside Investors shows that these ETFs are currently experiencing net outflows. investment products ETHE, FETH, and EZET accounted for $13.2 Million in net outflows.
Ethereum is trading at $2700, down 1.7% from yesterday.
“This article is not financial advice.”
“Always do your own research before making any type of investment.”
“ItsDailyCrypto is not responsible for any activities you perform outside ItsDailyCrypto.”
Source: crypto.news
