Highlights
Bitcoin ETF trading volume has been shattering records ever since the green signal from the SEC arrived. However, a previous dip and outflows had created speculation that the demand for the Bitcoin ETFs might vanish. Despite all rumors, the inflows for the ETFs have again seen a consecutive green level for three sessions.
Yesterday witnessed a cumulative net inflow of $213 million into Bitcoin spot ETFs, according to SoSoValue. This is the third day in a row of net inflows. The green trading came after a previous dip which had investors questioning about the demand of Bitcoin ETFs. A rise in inflows right before the halving also suggests that investors are likely piling up their BTC holdings before the code update.
In a single day, the Grayscale ETF (GBTC) saw a net outflow of $79.3 million, bringing its total net outflow to $15.31 billion. BlackRock’s ETF was the Bitcoin spot ETF with the greatest net inflow on a single day, coming in at over $144 million, increasing IBIT’s total net inflow over the past 15 years to $14.4 billion.
Read Also: Ripple CLO Says Crypto Fraud Can Be Fought Without Getting Political
BlackRock’s robust trading also comes as it previously included a list of the top Wall Street institutions as Authorized Providers (APs) in the spot Bitcoin ETF prospectus. Now, American financial behemoths Goldman Sachs, Citigroup, and Citadel, as well as Swiss multinational banking behemoth UBS, have been designated by BlackRock as first-time ETF market participants. With this addition, these banking behemoths are now APs to BlackRock, joining JPMorgan and Jane Street among others.
Even as institutional interest in Bitcoin expands, the futures market suggests that volatility may be on the horizon. As per CryptoQuant, there is a clear indication of increased Bitcoin purchases by US institutions when the Coinbase Premium keeps rising. This premium, which represents the price difference between Coinbase and foreign exchanges, highlights strong institutional participation, especially in light of the recent inflows in US BTC ETFs.
Read Also: XRP Analyst Dispels Concerns Over Ripple Stablecoin Impact
FLOKI has announced the launch of the first BNB chain exchange-traded product (ETP) in Europe.…
Binance Coin (BNB), the native cryptocurrency of BNB Chain, has surged another 8% today, moving…
Trump’s real estate portfolio is set to go on-chain amid World Liberty Financial’s announcement of…
Despite the broader crypto market consolidation, ASTER token is outperforming with 14% gains in the…
MetaMask, Consensys’ Web3 wallet, is set to introduce a reward points system for on-chain activities.…
Crypto exchange Coinbase has applied for a national trust charter, joining the likes of Ripple,…