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<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/bitcoin-etfs-buy-large-quantities" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitcoin ETFs Buy Large Quantities</a><br></p>
<p style="text-align: justify">Recent <a href="https://newslinker.co/category/ai/" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="exclude">data reveals</a> that US-based spot <a href="https://en.bitcoinhaber.net/bitcoins-price-and-mining-developments" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitcoin</a> exchange-traded funds (ETFs) acquired a substantial quantity of Bitcoin last week, equivalent to nearly two months of the cryptocurrency’s mining output. During the trading week from June 3 to June 7, 11 different funds collectively purchased 25,729 Bitcoins, as reported by HODL15Capital. This purchase, valued at approximately $1.83 billion, significantly outpaced the 3,150 new Bitcoins mined during the same period.</p>
<h2 id="what-is-happening-on-the-bitcoin-front">What Is Happening on the Bitcoin Front?</h2>
<p style="text-align: justify">HODL15Capital’s figures show that the volume of Bitcoin bought in a single week nearly matched the total for the entire month of May, which was 29,592 Bitcoins. This surge marks the largest buying week since mid-March when Bitcoin reached its all-time high of $73,679. The net inflow across 11 ETFs has reached $15.69 billion since their inception in January, despite a net outflow of $17.93 billion from Grayscale’s fund. The total assets under management now stand at approximately $61 billion. Bitcoin’s status as “digital gold” is bolstered by its finite supply of 21 million Bitcoins.</p>
<h2 id="notable-statement-from-a-famous-figure">Notable Statement from a Famous Figure</h2>
<p style="text-align: justify">Nate Geraci, president of ETF Store, noted on June 9 that despite Bitcoin ETFs being only five months old compared to 20 years for gold-focused ETFs, Bitcoin ETF assets under management (AUM) are already 60% of those of gold ETFs in the US. Last week, Bitcoin’s price hit $71,093 amid heightened inflows into US Bitcoin ETF funds, surpassing $71,000 for the first time since May 21, according to Tradingview data.</p>
<p style="text-align: justify">Radar Bear, co-founder of a crypto exchange, mentioned that Bitcoin’s price struggles to break its current high due to macroeconomic and geopolitical influences. These factors continue to affect the cryptocurrency’s <a href="https://finance.coin-turk.com/" rel="noopener noreferrer nofollow" target="_blank" data-wpel-link="exclude">market performance</a>.</p>
<h2 id="key-takeaways-for-investors">Key Takeaways for Investors</h2>
<p style="text-align: justify">Investors can draw several important conclusions from these developments:</p>
<ul>
 <li>Bitcoin ETFs are seeing substantial inflows, indicating rising institutional interest.</li>
 <li>The purchase volume by ETFs is significantly higher than the newly mined Bitcoin, potentially impacting supply and demand dynamics.</li>
 <li>Bitcoin’s correlation with macroeconomic factors necessitates close monitoring of global events for investment decisions.</li>
 <li>Positive trends in Bitcoin ETFs might influence similar movements in Ethereum ETFs, enhancing their market value.</li>
</ul>
<p style="text-align: justify">These insights can inform strategic investment decisions in the evolving cryptocurrency landscape, especially for those focusing on ETF-related opportunities.</p>
<p style="text-align: justify">With continuous developments in Ethereum ETF funds following the success of Bitcoin ETFs, market observers anticipate that positive news could boost the prices of both Bitcoin and Ethereum. Investors remain keen on tracking these developments closely.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/bitcoin-etfs-buy-large-quantities" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitcoin ETFs Buy Large Quantities</a></h5>

Bitcoin ETFs Buy Large Quantities

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