U.S. BTC spot ETF sees net inflow of $31.1 million

IconCryptoNewsTerminal Staff25 Jul, 2024

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U.S. BTC spot ETF sees net inflow of $31.1 million

U.S. BTC spot ETF saw a net inflow of $31.1 million on the previous day, according to financial information platform Farside Investors. While $70.7 million flowed into BlackRock IBIT, $39.6 million flowed out of Grayscale GBTC. No particular inflows or outflows were observed in the remaining ETFs. This influx comes at a time when bitcoin’s price has stabilized after weeks of market turmoil resulting from the fall of FTX and other crypto companies. The price of the crypto was down about 5% in the last day and has fluctuated between $16,000 and $17,000 in recent weeks. The latest development is a positive sign for the crypto industry, as it shows that institutional investors are still interested in investing in bitcoin and other crypto assets despite the recent volatility.

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