Institutional Funds Worth $252 Million Flow into US Bitcoin Spot ETF

IconCryptoNewsTerminal Staff23 Aug, 2024

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Institutional Funds Worth $252 Million Flow into US Bitcoin Spot ETF

According to Farside Investors, a financial information platform, approximately $252 million worth of funds flowed into US Bitcoin Spot ETFs on the 23rd (local time). This is the largest inflow since July 22nd, and the first time since August that the daily inflow has exceeded $200 million. Net inflows were seen in all issues except Grayscale GBTC, with the largest inflow of $86.8 million into BlackRock's IBIT. The inflow of funds into Bitcoin Spot ETFs is seen as a positive sign for the cryptocurrency market, as it indicates that institutional investors are increasingly interested in investing in Bitcoin. This is likely due to the increasing institutional adoption of cryptocurrencies, as well as the growing popularity of Bitcoin as a store of value.

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