In brief
- U.S. spot Bitcoin ETFs saw inflows of $675.8 million Wednesday, their highest level since September 12.
- Bitcoin’s upward price momentum continued through Thursday morning, with the price of BTC topping $119,000
- Analysts linked increased Bitcoin ETF inflows over the past week to predictions of looming U.S. interest rate cuts, among other “macro and market-specific factors.”
Bitcoin ETFs have recorded their highest single day of inflows since mid-September, as the price of Bitcoin topped $119,000 Thursday morning.
According to data from Farside Investors, Bitcoin ETFs attracted $675.8 million worth of inflows Wednesday. BlackRock’s IBIT fund, currently the world’s largest Bitcoin fund, led the charge with $405.5 million of inflows. Meanwhile, Fidelity’s FBTC fund attracted $179.3 million, while Bitwise’s BITB fund attracted $59.4 million.
Yesterday’s gains mark a three-day streak of $100 million-plus inflows since the start of the week, with Bitcoin ETFs attracting $518 million on Monday, September 29, and $429.9 million on Tuesday, S
Go to Source to See Full Article
Author: Will McCurdy
