Since 2024 the spot Bitcoin exchange-traded fund (ETF) has been a great success.ncreased attention from investors In the New Year. The positive mood has intensified since Donald Trump was inaugurated as president of the United States.
Exchange-traded funds in the US continued to enjoy a strong capital flow streak, with net inflows of more than 500 million dollars on Friday 24th January. This positive trend has led to a steady price for the leading cryptocurrency this weekend, with the currency’s value remaining at around $105,000.
Bitcoin ETFs register $517,000,000 inflow on one day
As per the latest market dataThe US spot Bitcoin ETFs have seen a capital inflow of $517m on January 24th, making it the seventh straight day that the crypto products are experiencing a positive net flow.
Fidelity’s Wise Original Bitcoin Fund (with ticker FBTC), which led the group in terms of inflows, topped the list with over $186 Million. The fund’s strong performance in recent weeks has allowed it to maintain its second place as the largest BTC ETF.
The ARK 21Shares Bitcoin ETF (with the ticker code ARKB), came in at second with an inflow total of approximately $169 million. Meanwhile, BlackRock’s iShares Bitcoin Trust, with the ticker code IBIT, was third and added more than $155 millions in value for the day.
Grayscale Bitcoin Mini Trust Trusts (BTC) et WisdomTree Bitcoin Trusts (BTCW), each with $13 and $2.79 millions, were also Bitcoin ETFs that had a good single-day performance. Bitwise Bitcoin Trust (BITB) is the only ETF that had a negative performance on Friday. It lost $8.6 Million in value.
This $517 million performance on a single day brought the weekly Bitcoin ETFs record in US to $1.76 Billion. It also extended the streak of positive capital inflows, which now stands at seven days.
Bloomberg ETF’s expert says in a post on X:
With $4.2b of flows, the spot Bitcoin ETFs have quietly taken off to begin 2019. This is about 6% all ETFs. Since launch, the net has increased to +$40b with an aum of $121b. This represents a return 127%. In terms of assets, they’ve just passed ESG ETFs ($117b) in size and are roughly the same value as gold.
Bitcoin Price Overview
Recent steady capital inflows could have been translated into the Bitcoin price staying afloat The market is still thriving despite recent uncertainties. The premier cryptocurrency, as of the time this article was written, is currently valued at approximately $104,500. This reflects no movement over the last 24 hours.
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Source: www.newsbtc.com
