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Bitcoin ETF

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In a notable shift, <a href="https://thecoinrise.com/blackrock-ibit-spot-bitcoin-etf-surpasses-300000-btc-in-aum/" rel="noopener noreferrer nofollow">U.S. spot Bitcoin exchange-traded funds (ETFs)</a> resumed net inflows on Wednesday, drawing in a substantial $100.9 million after experiencing net outflows earlier in the week. This resurgence in investment marks a continuation of interest in Bitcoin ETFs, which had previously sustained a record 19-day streak of inflows before encountering two consecutive days of net outflows on Monday and Tuesday.
<h2 id="span-style-font-weight-400-leading-the-charge-fidelity-s-fbtc-span">Leading the Charge: Fidelity’s FBTC</h2>
Fidelity’s FBTC ETF led Wednesday’s <a href="https://sosovalue.xyz/assets/etf/us-btc-spot" rel="noopener noreferrer nofollow">inflows</a> with an impressive $51 million. This significant investment underscores Fidelity’s strong position in the Bitcoin ETF market, attracting considerable interest from investors seeking exposure to the leading cryptocurrency.&nbsp;
Following closely, BlackRock’s IBIT ETF saw inflows of $16 million, demonstrating the ongoing confidence in BlackRock’s offering in the crypto space.
<h3 id="span-style-font-weight-400-other-major-inflows-in-spot-bitcoin-etfs-span">Other Major Inflows in Spot Bitcoin ETFs</h3>
Other prominent players also <a href="https://thecoinrise.com/australia-launches-first-spot-bitcoin-direct-holdings-etf/" rel="noopener noreferrer nofollow">experienced notable inflows</a>. Bitwise’s BITB ETF recorded $15 million in net inflows, while VanEck’s HODL ETF added $12 million. Additionally, Ark Invest’s ARKB ETF gained $9 million, further indicating robust investor appetite across a range of Bitcoin ETF products.
<h2 id="span-style-font-weight-400-grayscale-and-others-a-quiet-day-span">Grayscale and Others: A Quiet Day</h2>
Conversely, Grayscale’s GBTC, which has predominantly seen net outflows since its conversion in January, reported zero flows on Wednesday. This stagnation was mirrored by funds from WisdomTree, Invesco, and several others, highlighting a varied landscape where not all funds are experiencing the same levels of investor enthusiasm.
Since their inception, the collective 11 Bitcoin ETFs have amassed total net inflows of $15.52 billion, reflecting the substantial capital that has flowed into these investment vehicles. This cumulative figure underscores the growing acceptance and adoption of Bitcoin ETFs as a means for traditional investors to gain exposure to the digital asset market.
<h3 id="span-style-font-weight-400-bitcoin-and-us-cpi-data-span">Bitcoin and US CPI Data</h3>
Wednesday’s inflows coincided with the release of key economic data from the U.S. economy, <a href="https://thecoinrise.com/bitcoin-volatility-hits-historic-lows-before-june-7-decline/" rel="noopener noreferrer nofollow">influencing market sentiment</a>. The U.S. Labor Department’s Consumer Price Index (CPI) <a href="https://www.cnbc.com/2024/06/12/cpi-report-june-inflation.html" rel="noopener noreferrer nofollow">reported</a> no increase in May, suggesting a potential easing of inflation pressures. This data point is critical as it may indicate a slowing inflation trend, which has been a focal point for economic policy makers.
Despite the absence of inflation growth, the Federal Open Market Committee (FOMC) decided to maintain the current interest rate range of 5.25% to 5.50% following their meeting on Wednesday.&nbsp;
The <a href="https://thecoinrise.com/us-federal-reserve-signals-potential-for-cbdc/" rel="noopener noreferrer nofollow">Federal Reserve emphasized</a> that it anticipates only one rate cut in 2024, as it remains cautious about declaring the deflationary trend as fully established. This conservative stance by the Federal Reserve reflects ongoing concerns about the stability of economic recovery and inflation control.
The post <a href="https://thecoinrise.com/bitcoin-etfs-see-significant-inflows-amid-economic-uncertainty/" rel="noopener noreferrer nofollow">Bitcoin ETFs See Significant Inflows Amid Economic Uncertainty</a> appeared first on <a href="https://thecoinrise.com" rel="noopener noreferrer nofollow">Latest News and Insights on Blockchain, Cryptocurrency, and Investing</a>.

Bitcoin ETFs See Significant Inflows Amid Economic Uncertainty

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