$101 million inflow into US spot Bitcoin ETFs

There was a net inflow of $101 million into US spot Bitcoin ETFs on Wednesday. Fidelity FBTC It ranked at the top with an entry of 51 million dollars. 11 spot Bitcoin ETFs in the US raised a total of $100.9 million on Wednesday. Following the net outflows on Monday and Tuesday, these inflows continued the record inflow series of the last 19 days.

In-depth review of fund performance

According to SosoValue information, Fidelity on Wednesday FBTC He is in the chairman position with an entry of $51 million. BlackRock IBIT It ranked second with an entry of $16 million. Bitwise BITBWhile providing a net inflow of $15 million, VanEck HODL He contributed $12 million. Ark Invest ARKBIt achieved a net inflow of 9 million dollars.

Grayscale, which has recorded mostly net outflows since January GBTC, WisdomTree ( BTCW ), Invesco and other funds reported zero flows. 11 years since their establishment BitcoinIts ETF had total net inflows of $15.52 billion.

Economic outlook and market dynamics

These large inflows on Wednesday coincided with the important economic data expected from the US economy. According to CNBC, the Labor Department’s May consumer price index remained stable, which may indicate that inflation is slowing. With this Federal Open Market Committee After the meeting on Wednesday, it decided to keep the interest rate between 5.25% and 5.50%. According to CNN’s report Federal ReserveHe only predicts an interest rate cut in 2024 because he does not believe that deflationary tendencies have ended.

This resurgence in US spot Bitcoin ETFs is considered an indication that investors’ interest and faith in Bitcoin is increasing.

US Spot Bitcoin ETFs were buoyed again on Wednesday with a whopping $101 million inflow. Fidelity’s FBTC led with $51 million, while BlackRock, Bitwise and VanEck also saw significant inflows. Investors’ interest in Bitcoin is increasing, and this trend is expected to continue with the positive information from the US economy.

This news was first published on the Coin Engineer website.