BTC Spot ETF Grabs $295 Million, Hits Highest Inflows Since June 6th 🚀

IconCryptoNewsTerminal Staff08 Jul, 2024

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BTC Spot ETF Grabs $295 Million, Hits Highest Inflows Since June 6th 🚀

US Bitcoin (BTC) spot exchange-traded funds (ETFs) saw a surge of $295 million in inflows on August 8, marking the highest daily inflow since June 6, according to data from financial information platform Farside. BlackRock's iShares Bitcoin Trust (IBIT) led the inflows, raking in $187.2 million. Fidelity's Bitcoin ETF (FBTC) followed with $61.5 million, and Grayscale's Bitcoin Trust (GBTC) received $25.1 million. This influx of capital into BTC spot ETFs indicates growing investor interest in gaining exposure to the cryptocurrency without having to directly purchase and store it. The inflows also come amid a broader rally in the crypto market, with Bitcoin's price surging to over $24,000 in recent days. Despite the positive inflows, it's worth noting that BTC spot ETFs still face regulatory scrutiny and may experience volatility in the future. Investors should carefully consider their risk tolerance and investment goals before investing in these funds.

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