Positive signal from spot Bitcoin ETFs: Will the rise begin?

spotlight in the USA Bitcoinexchange-traded funds ( ETF) reported net inflows of $21.52 million on Wednesday, continuing the positive streak that began on Tuesday.

The day’s largest net inflows were seen from Fidelity’s FBTC, valued at $19 million, according to data from SoSoValue. Grayscale’s GBTC reported net inflows of $4 million, its first positive flow since June 5. VanEck also reported $3 million inflows on Wednesday.

Meanwhile, Ark Invest and 21Shares’ ARKB recorded the day’s only net outflow of $5 million, while the remaining funds from BlackRock, Bitwise, Valkyrie and others saw zero inflows.

Spot Bitcoin ETFs have generated a total of $14.44 billion in net inflows since their debut in January.

All eyes on Bitcoin ETFs ether‘also

Reuters reported on Wednesday, citing anonymous sources, that the U.S. Securities and Exchange Commission ( SEC ) said it may approve spot Ethereum ETFs next Thursday or July 4th. Bloomberg ETF analyst Eric Balchunas had previously predicted July 2 as a likely launch date.

SEC chairman Gary Gensler said that the process for spot Eher ETFs is proceeding without any problems. The regulator granted preliminary approval for spot Ether ETFs last month and is currently reviewing issuers’ registration statements.

We watched a strong increase in BTC as approval approached for Spot Bitcoin ETFs. It has become a matter of curiosity whether the same effect can be experienced in Ether. Altcoins, which have experienced a significant decline recently, may gain momentum with the spot ETH ETF agenda.