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LATEST: U.S. Spot Bitcoin ETFs See Second Highest Daily Inflows, Totaling $886.75 Million

Post author By cryptocrunchnews
Post date 2Y

U.S. spot bitcoin exchange-traded funds (ETFs) recorded their second highest daily net inflows on June 4, attracting $886.75 million. This influx is second only to the March 12 peak of $1.05 billion. Leading the charge, Fidelity’s FBTC saw the largest net inflows at $379 million, followed by BlackRock’s IBIT with $274 million. To date, cumulative net inflows stand at $14.85 billion.

Additional contributions came from Ark Invest and 21Shares’ ARKB, which recorded $139 million, and Bitwise’s BITB with $61 million. Grayscale’s GBTC drew $28 million, marking its third largest net inflows since conversion. Other ETFs from VanEck and Valkyrie saw single-digit inflows. These inflows marked the 16th consecutive day of positive net inflows for the 11 spot bitcoin ETFs, just shy of the record streak from January to mid-February.

Since their inception, spot bitcoin ETFs have amassed a total net inflow of $14.57 billion. Despite the recent surge, the total volume of flows remains below the March peak. This trend underscores the growing investor confidence and interest in bitcoin ETFs as a robust investment vehicle.

Data

What is an algorithm of thoughts (AoT)?

Post author By cointelegraph
Post date 2Y

Demystify the algorithm of thoughts (AoT), an AI innovation transforming how computers reason and solve problems.

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Bitcoin may hit new high if US employment, inflation slows

Post author By cointelegraph
Post date 2Y

Bitcoin could hit new highs in a matter of days if it holds strong amid three-year low job openings and possible slowing inflation in the U.S., says crypto researcher Markus Thielen.

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US political change could expose crypto to $20T industry: Bitwise

Post author By cointelegraph
Post date 2Y

Regulatory uncertainty is holding back the $20 trillion dollar financial advisory industry from investing more in crypto, claims Bitwise investment head Matt Hougan.

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Bitcoin ‘coiling’ up for a huge move as it hovers around $71K

Post author By cointelegraph
Post date 2Y

Bitcoin’s average price across 5-day, 30-day, and 50-day periods are almost the same, indicating low volatility and raising the chances of a price breakout in either direction.

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Germans split on digital euro, most don’t know what it is: Survey

Post author By cointelegraph
Post date 2Y

Most Germans have never heard of the digital euro and some who knew of it thought it was a cryptocurrency, a central bank survey found.

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Politicians urge Biden to bring back Binance exec from Nigeria

Post author By cointelegraph
Post date 2Y

The U.S. politicians have accused Nigeria’s government of charging Gambaryan, a Binance compliance officer and former federal agent, with “baseless” crimes.

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Fidelity exec says most investors should have some Bitcoin allocation

Post author By cointelegraph
Post date 2Y

The head of digital asset strategies at Fidelity Bank explained that most investors should have positions in Bitcoin regardless of their market thesis.

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NEW: Spot Ethereum ETFs May Absorb 1 Million ETH in Five Months, K33 Forecasts

Post author By cryptocrunchnews
Post date 2Y

In a recent report by K33 Research, analysts project that new spot Ethereum exchange-traded funds (ETFs) in the United States could garner between $3.1 billion and $4.8 billion in net inflows within their initial five months of trading. Drawing comparisons with Bitcoin, the analysts anticipate significant investment interest in Ethereum, highlighting the steady downtrend in the portion of ether’s circulating supply held in investment vehicles since the 2021 crypto bull market peak.

Globally, existing Ethereum exchange-traded products (ETPs) hold a substantial portion of assets under management compared to Bitcoin counterparts, with figures around 28.2% excluding U.S. spot Bitcoin ETFs. Despite U.S. Ethereum futures ETFs representing just 5% of their Bitcoin counterparts, analysts attribute this to launch timing rather than indicative of investment demand.

Approval for eight spot Ethereum ETFs from firms like BlackRock and Fidelity has been granted by the U.S. Securities and Exchange Commission, pending effective S-1 registration statements before trading commencement. Analysts remain optimistic, citing BlackRock CEO Larry Fink’s influence on Ethereum’s potential, foreseeing a setup for asset strength throughout the summer.

Report

SEC to close regional office after judge dismisses DEBT box case

Post author By cointelegraph
Post date 2Y

A judge ordered the U.S. Securities and Exchange Commission to pay $1.8 million following “bad faith conduct” over a temporary restraining order to freeze DEBT Box’s assets.

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