news 
Spot Bitcoin ETFs pull in $636 million as Bitcoin reaches new all-time high of $107,822
The 11-spot bitcoin ETFs have just recorded the highest inflow in a week after Bitcoin hit a new all-time high of $107,822. According to recent data from Farside Investors UK, Blackrock’s IBIT led the day by recording the highest inflow of $418 million, accounting for over 70% of the total inflow of $636 million.
Fidelity’s FBTC came in second with an inflow of $116 million, followed closely by Ark 21 shares AKRB, Bitwise BITB, and Grayscale’s GBTC which recorded inflows of $47.7 million, $30.7 million, and $17.6 million respectively. Meanwhile, Grayscale’s BTC registered the least inflow for the day with a paltry $6.6 million.
What is particularly astonishing is that there were no outflows recorded by any Bitcoin ETFs on this day, as Grayscale’s GBTC which has been known to experience significant outflows in recent times surprisingly pulled in funds, breaking its streak of red days.
The cumulative total net inflow for all Bitcoin ETFs now stands at $36.24 billion with a total net asset value of $120.71 billion, according to data from Sosovalue.
The sudden surge in inflows could be attributed to the recent price increase, which has seen Bitcoin reach an unprecedented level of $107,822 per BTC. The market is currently abuzz with rumors that the Donald Trump administration plans to set up a strategic Bitcoin reserve for the country and pilot America’s dominance of the global crypto space.
In other news, it was announced yesterday that the Federal Open Market Committee (FOMC) will be releasing new data on federal rate cuts tomorrow. The decision is expected to have a significant impact on the cryptocurrency market as any reduction in interest rates would lead to an increase in lending and subsequently, more liquidity being pumped into the economy.
The increased cash flow could further drive up demand for Bitcoin, resulting in higher prices.
Source: http://www.crypto-news.net
