latest World Crypto News

Search and discover the latest Cryptocurrency updated Stories in Categories

24-7 World Cryptocurrency News about Blockchain, Technology and much more, only from Top Leading Sources

Bitcoin ETF snapshot: Flows eclipse $1B last week amid ETH fund hype

During a week headlined by a key approval for US spot ether ETFs, investor capital poured into America’s bitcoin funds. 

Nearly $1.1 billion collectively entered the 11 US spot bitcoin ETFs, according to Farside Investors data. 

It marked the third straight week of net inflows for the fund category after four consecutive weeks of outflows. 

Last week’s flows marked the highest weekly bitcoin ETF inflow total since the segment saw more than $2.5 billion from March 11 to March 15. The latest total narrowly eclipsed the $948 million of inflows reeled in by the funds between May 13 and May 17.

Read more: Bitcoin ETF snapshot: Week’s inflows hit highest mark since March

BlackRock ’s iShares Bitcoin Trust (IBIT) led the way with $720 million of net inflows, the data indicates. 

IBIT is on the cusp of surpassing the category leader in assets, the Grayscale Bitcoin Trust ETF ( GBTC ). As of Friday, IBIT and GBTC managed about $19.6 billion and $20 billion, respectively. 

Grayscale has seen more than $17.6 billion of net inflows since converting to an ETF in January — though those have abated in recent weeks.

David LaValle, the firm’s head of ETFs, said during an event last month that the company “anticipated” the initial wave of outflows given the different types of GBTC holders. 

“We had a number of institutional traders that were taking on positions when the product was trading at a discount to its net asset value,” LaValle noted at the time. “[The conversion] gave the opportunity for those investors to unwind those positions.”

Grayscale is also seeking to launch a cheaper version of GBTC .

Read more: SEC rule approvals set stage for spot ether ETF launches

James Butterfill, head of research at CoinShares, wrote in a Tuesday report that the inflows into bitcoin ETFs are likely partially due to investors interpreting the Federal Open Market Committee’s minutes and recent macro data as “mildly dovish.”

During a week in which the Securities and Exchange Commission approved 19b-4 proposals for a range of spot ether ETFs, ether-related products in other countries saw $36 million worth of inflows. 

Overall, year-to-date net inflows into digital asset investment products so far total a record-high $14.9 billion, CoinShares data shows.

Start your day with top crypto insights from David Canellis and Katherine Ross. Subscribe to the Empire newsletter .

The Lightspeed newsletter is all things Solana, in your inbox, every day. Subscribe to daily Solana news from Jack Kubinec and Jeff Albus. shares this Contents always with License.

Thank you for Share!



Search about Crypto News


The latest Top News, only from Leading exponents of BlockChain, Bitcoin and different Accredited Crypto Currency Sources.

Since 2015, our Mission was to Share, up-to-date, those News and Information we believe to represent in an Ethical and sincere manner the current Crypto Currencies World: everything you are looking for, in one place!

We have always tried to give priority to the News; for this reason we have designed simple and intuitive, usable by all Devices, fast and effective.


Today Most Popular News