As a result of the volatile movement experienced in the cryptocurrency market yesterday, Bitcoin It experienced a pullback to the $57,000 level. Afterwards, BTC made a new move towards $61,000, but the move could not overcome the resistance and BTC fell below the $59,000 level again. The volatile movement also caused outflows on the spot Bitcoin ETF side. Let’s take a look at the numbers.
Spot Bitcoin ETFs Take Off
Spot Bitcoin exchange-traded funds (ETFs) in the US saw net outflows of $71.73 million on Thursday, continuing a three-day streak of outflows. BlackRock’s largest spot Bitcoin Its ETF, IBIT, reported negative flows for the first time since May 1, with outflows of $13.51 million. A Prize Pool Worth 21 Million TL Awaits You from BinanceTR! Participating and winning has never been easier.. You can sign up to BinanceTR from this link. Get your first crypto!
Grayscale’s GBTC continued this trend with $22.68 million in outflows. Fidelity’s FBTC saw net outflows of $31.11 million. Bitwise’s BITB fund saw $8.09 million withdrawn, while Valkyrie’s BRRR ETF saw $1.68 million in outflows.
Meanwhile, Ark and 21Shares’ ARKB fund was the only spot Bitcoin ETF to record net inflows of $5.34 million. In total, daily trading volume across the 12 spot Bitcoin ETFs fell to $1.64 billion on Thursday, down from $2.18 billion the previous day.
Latest Situation in Spot Ethereum ETFs
Spot Ethereum ETFs, on the other hand, saw modest outflows. Spot Ethereum ETFs in the U.S. reported net outflows of $1.77 million on Thursday, following positive flows the day before. Grayscale Ethereum Trust (ETHE) stood out among these funds with outflows of $5.35 million. In contrast, Grayscale Ethereum Mini Trust (ETH) recorded net inflows of $3.57 million.
The other seven spot Ethereum funds finished the day without any inflows or outflows on Thursday. Total trading volume fell to $95.91 million, falling short of the previous day’s figure of $151.57 million. Bitcoin, the flagship of cryptocurrencies, fell 0.3% in the last 24 hours to trade at around $58,984, while the leading altcoin Ethereum It fell by 0.29% to $2,516.
Disclaimer: The information contained in this article does not contain investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
