According to recent data, the Bitwise Bitcoin ETF was the only spot Bitcoin ETF to experience a net inflow yesterday. Grayscale’s Bitcoin Trust did not see any net outflows. This movement in the market is considered significant.
Bitwise Bitcoin ETF Sets New Record for Inflows
In the past, Grayscale’s GBTC, which has now been converted into a spot Bitcoin ETF, has typically experienced significant outflows that hindered inflows into other products. However, this trend remained unchanged yesterday. SoSo Value data reveals that there were approximately $17 billion in net outflows.
On the other hand, the Bitwise Bitcoin ETF stood out by attracting around $12 million in inflows yesterday. No other Bitcoin ETF experienced net inflows, suggesting that this particular ETF is making waves in the market.
Noteworthy Developments in the Crypto ETF Sector
In addition to the above, there have been other noteworthy developments in the crypto ETF sector. Grayscale withdrew its proposal to list and trade shares of its Ethereum futures ETF. Furthermore, the Securities and Exchange Commission has decided to delay its ruling on spot Ethereum ETFs.
Given this data, it is crucial to closely monitor the activity of crypto ETFs, especially Bitcoin ETFs, and the changes occurring in the market. Investors should carefully evaluate the opportunities and risks that arise from these dynamics. However, it is important to note that the current state of the cryptocurrency market remains a concern for investors.
In terms of prices, Bitcoin (BTC) is currently trading at $61,390, after falling to $60,888 overnight. Ethereum is attempting to surpass the $3,000 resistance level and is currently priced at $2,985.
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Please note that the information provided in this article does not constitute investment advice. Investors should be aware of the high volatility and risks associated with cryptocurrencies and should conduct their own research. Follow our news on Telegram, Facebook, Twitter, and Coinmarketcap.
