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US bitcoin Spot ETFs (exchange-traded funds) extended their positive streak of inflows to eight days after a total of $61.3 million entered the funds on September 30.
The fund of the asset management giant black rock led the way in entries yesterday with data from btc/”>Far Side Investors which shows that its IBIT saw $72.2 million enter its reserves.
<img decoding="async" alt="How have bitcoin spot exchange-traded funds (ETFs) impacted the price of bitcoin? – Announcement Center” src=”https://technicalterrence.com/wp-content/uploads/2024/10/US-Spot-Bitcoin-ETFs-Extend-Net-Inflows-Streak-to-8.jpeg”/><img decoding="async" src="https://technicalterrence.com/wp-content/uploads/2024/10/US-Spot-Bitcoin-ETFs-Extend-Net-Inflows-Streak-to-8.jpeg" alt="How have bitcoin spot exchange-traded funds (ETFs) impacted the price of bitcoin? – Announcement Center”/>
ARKB and BITB record outflows, while other funds see no new flows
Fidelity's FBTC was the only other spot bitcoin ETF to record net inflows on Monday after investors sent $8.3 million to the fund. Meanwhile, BITB and ARKB were the only products to suffer net outflows.
Data shows that $9.5 million left Ark and the 21Shares ARKB on September 30. Similarly, $9.7 million was withdrawn from Bitwise's BITB. This is because both funds recorded net inflows during the two sessions leading up to Monday.
<blockquote class="twitter-tweet” data-width=”550″ data-dnt=”true” wp_automatic_readability=”11.733333333333″>
Good day,
Despite yesterday's price action, bitcoin ETFs had $61.3 million of positive inflows.
Blackrock earned $72.2 million.
The price went from $66,000 over the weekend to $63,000 on Monday.
The fourth quarter begins today. The big quarter is approaching.
fountain: twitter.com/FarsideUK?ref_src=twsrc%5Etfw”>@FarsideUK pic.twitter.com/9XPXqgUs2K
– WhalePanda (@WhalePanda) twitter.com/WhalePanda/status/1840965758433505596?ref_src=twsrc%5Etfw”>October 1, 2024
The remaining US place bitcoin ETF recorded zero flows. Grayscale's GBTC has also taken a break from the outtrend it has been on since its conversion earlier in the year. After recording inflows of $11.2 million on September 27 and outflows of $7.7 million on September 26, the product recorded no new flows yesterday.
US Spot bitcoin ETFs See Net Inflows of Over $1 Billion in Past 5 Days
In the last five trading sessions alone, US Spot bitcoin ETFs have recorded over $1 billion in net inflows. The largest inflows during this period were experienced on September 27, when $494.4 million was sent to the funds together.
IBIT inflows did not account for the majority of these inflows. Instead, ARKB was the most successful fund in terms of additional capital on September 27. Data from Farside Investors shows that ARKB saw inflows of $203.1 million that day. In total, the funds have raised $18.866 million in net inflows since their launch in January.
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