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Bitcoin ETFs End the Week on a Positive Note, Record $171 Million Inflow
The crypto market has ended the week on a high note as spot bitcoin ETFs recorded a net inflow of $171 million. This marks a significant departure from yesterday’s trend of outflows, where $140 million was withdrawn. It is essential to note that this recent trend of extreme investor activity has been a recurring theme throughout the year.
According to reports, Ark 21 shares ARKB led the daily inflows with a substantial $59 million influx. Fidelity’s FBTC followed closely, raking in a staggering $52.5 million. Meanwhile, Blackrock’s IBIT and VanEck’s HODL garnered a more modest $21.9 million and $21.8 million respectively.
On the other end of the spectrum, Bitwise, BITB, and Franklin Templeton’s EZBC recorded the smallest inflows for the day with $10.5 million and $5.6 million, respectively. It is worth mentioning that all remaining Bitcoin ETF funds witnessed no transactions from institutional or retail investors on this moderate trading day.
As of now, the primary cryptocurrency asset is exchanging hands at a price of $97,888, having surged by 1.1% in the last 24 hours. This comes as Bitcoin continues to recover from last weekend’s crash when it plummeted below $100,000 and hit $93,000 for the first time this year.
The reason behind this unusual trend has yet to be identified, with analysts still trying to grasp the essence of this phenomenon.
Source: http://www.crypto-news.net
