Facing rumors that there is a high possibility of Ethereum ETF being approved, Bitcoin ETFs have witnessed 8 consecutive days of green inflow, ETH price also skyrocketed to 3,800 USD.
Green Bitcoin ETF 8 days in a row, ETH surpasses 3,800 USD in hopes of Ethereum ETF being approved
Bitcoin spot ETFs in the United States had a total Capital inflow of $153.91 million on trading day May 22, recording positive inflow for the 8th consecutive day. 2 days ago, funds recorded 6 consecutive days of inflow with a total inflow of up to 1.2 billion USD.
According to data from Farside Investor , BlackRock's IBIT leads with $92 million. Fidelity's FBTC followed with Capital of $74.6 million, while Ark Invest and 21Shares' ARKB pulled in $3.5 million the same day.
Statistics on Bitcoin ETFs in the United States on May 22, 2024. Source: Farside Investors
Meanwhile, Grayscale's GBTC saw an outflow of up to 16.1 million USD. The remaining funds recorded a round zero.
Since launching in January, US Bitcoin spot ETFs have accumulated net Capital of $13.33 billion. According to data from The Block , cumulative inflow volume has reached more than 267 billion USD to date.
The exciting activity of ETFs largely comes from legal support. Recent days have witnessed positive changes in the US legal environment, which was previously harsh and "hawkish".
As Coin68 reported, the US House of Representatives passed the FIT21 bill , marking the first step towards responsible innovation, while also giving the Commodity Futures Trading Commission (CFTC) more power to oversee Observe that crypto assets are classified as “digital goods”.
The community is also hoping for an Ethereum spot ETF to be approved, after the SEC asked exchanges to amend and complete their 19b-4 filings earlier this week. CboeBZX filed amended forms for five Ether spot ETFs, while Nasdaq also filed amended forms for asset management giant BlackRock's Ether spot fund.
Bloomberg 's ETF expert Eric Balchunas's most optimistic prediction is that the SEC will announce its decision around 03:00 AM on May 24 (Vietnam time).
My best guess is we hear from the SEC around 4pm tomorrow. For spot BTC they dropped it at 3:45pm, some others in the past were slightly after 4pm. Anything poss tho https://t.co/MzTOcsmTnJ
— Eric Balchunas (@EricBalchunas) May 22, 2024
ETH price continues its spectacular growth momentum, trading around $3,850, the highest price since mid-March this year.
1h chart of the ETH/ USDT pair on Binance at 04:30 PM on May 23, 2024
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