The US Bitcoin (BTC) spot exchange-traded fund (ETF) recorded its highest daily inflow in two months. The BTC price also continued its upward trend, breaking through $65,000.
According to Cointelegraph on the 26th (local time), $365.7 million flowed into 11 BTC spot ETFs listed in the United States on that day. This is the largest net inflow since July 22nd ($486 million).
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Among them, Ark Invest 21Shares ETF (ARKB) ranked first with a net inflow of $113.8 million. BlackRock iShares Bitcoin Trust (IBIT) ranked second with $93.4 million. It was followed by Fidelity Wise Origins Bitcoin Fund (FBTC), Bitwise Bitcoin ETF (BITB), and VanEck Bitcoin ETF (HODL).
The reason for the inflow of funds into BTC spot ETFs is interpreted as the recent 0.5% point cut in the U.S. Federal Reserve (Fed) rate, raising expectations for additional rate cuts. In addition, the improved investor sentiment following China’s announcement of a large-scale economic stimulus package also had an impact.
As funds flowed into the BTC spot ETF, the price of the underlying asset, BTC, also rose. At one point this morning, the price of BTC on CoinMarketCap exceeded $65,000 for the first time in about two months. As of 3:19 PM that day, BTC was trading at $65,500, up 21.41% from the beginning of the month.
- Reporter Choi Jae-heon
- chsn12@decenter.kr
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