Bitcoin ETF update: Rising interest with weekly net inflows of $535Madewale olarindeJuly 29, 2024
Bitcoin ETF update: Weekly net inflow of 0.5 billion $35 million raises interest
Adewale Olarinde July 29, 2024
Bitcoin has entered the $69,000 price range.
The new price range is likely to have an impact on ETF flows this week.
The latest Bitcoin ETF update reveals that most ETF companies have experienced positive capital inflows over the past week, showing strong investor interest.
Only one major ETF company reported a negative flow and marked it as an outlier to the bullish trend in ETF investments. Furthermore, with the exception of one, every day of the week saw a positive trend.
Bitcoin ETF flow trend
According to SosoValue's latest Bitcoin ETF update data, spot ETFs experienced a net inflow of 0.5 billion 35 million dollars over the past week.
However, not all funds saw positive movements. Grayscale (GBTC) reported a net outflow of 0.1 billion 20 million dollars, making it the only ETF with a negative flow for the week.
Meanwhile, BlackRock's Bitcoin ETF (IBIT) recorded the highest inflow with an inflow of 0.7 billion58 million dollars per week. Fidelity's Bitcoin ETF (FBTC) also saw a healthy inflow and added $29.61 million.
Source: Sososvalue
The total net asset value of Bitcoin Spot ETFs is currently $6.2095 billion. The ETF net asset ratio, which measures the market value of these ETFs to the total market value of Bitcoin, is currently 4.67%.
Furthermore, past cumulative net inflows into Bitcoin Spot ETFs reached 17.5 billion87 million dollars, indicating that interest in Bitcoin has increased markedly through these investment instruments.
Bitcoin starts off the week strong
Bitcoin price trends indicate a positive start to the week, and the current transaction price is around $69,500, showing an increase of more than 1.8%. The rise will return it to the $69,000 price range for the first time in more than a month.
It also neared the critical $70,000 threshold.
Source: TradingView
Furthermore, this upward movement has now approached the overbought region, as indicated by approximately 4 Relative Strength Indices (RSI).
Adewale Olarinde July 29, 2024
Bitcoin has entered the $69,000 price range.
The new price range is likely to have an impact on ETF flows this week.
The latest Bitcoin ETF update reveals that most ETF companies have experienced positive capital inflows over the past week, showing strong investor interest.
Only one major ETF company reported a negative flow and marked it as an outlier to the bullish trend in ETF investments. Furthermore, with the exception of one, every day of the week saw a positive trend.
Bitcoin ETF flow trend
According to SosoValue's latest Bitcoin ETF update data, spot ETFs experienced a net inflow of 0.5 billion 35 million dollars over the past week.
However, not all funds saw positive movements. Grayscale (GBTC) reported a net outflow of 0.1 billion 20 million dollars, making it the only ETF with a negative flow for the week.
Meanwhile, BlackRock's Bitcoin ETF (IBIT) recorded the highest inflow with an inflow of 0.7 billion58 million dollars per week. Fidelity's Bitcoin ETF (FBTC) also saw a healthy inflow and added $29.61 million.
Source: Sososvalue
The total net asset value of Bitcoin Spot ETFs is currently $6.2095 billion. The ETF net asset ratio, which measures the market value of these ETFs to the total market value of Bitcoin, is currently 4.67%.
Furthermore, past cumulative net inflows into Bitcoin Spot ETFs reached 17.5 billion87 million dollars, indicating that interest in Bitcoin has increased markedly through these investment instruments.
Bitcoin starts off the week strong
Bitcoin price trends indicate a positive start to the week, and the current transaction price is around $69,500, showing an increase of more than 1.8%. The rise will return it to the $69,000 price range for the first time in more than a month.
It also neared the critical $70,000 threshold.
Source: TradingView
Furthermore, this upward movement has now approached the overbought region, as indicated by approximately 4 Relative Strength Indices (RSI).
Disclaimer: Community is offered by Moomoo Technologies Inc. and is for educational purposes only.
Read more
Comment
Sign in to post a comment
米60日40主に暗号系
MSTR CNC ALL HIG TEM SMLR JNJ ASTS RTX BE RGTI RNA PRAX TXT IOT NE NG BW ACHR JOBY OPCH RIVN 3350
64Followers
206Following
229Visitors
Follow