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Coinsurges provides coverage of fintech, blockchain, and Bitcoin, delivering the most recent news and analyses on the future of money. Stay up-to-date with live prices, charts, and trading options for the top exchanges. Keep track of the day's top cryptocurrency gainers and losers, as well as which coins have experienced gains and losses in the past 24 hours.
Trust Coinsurges as your go-to source for all news and updates in the industry.

14 straight days of inflows for Bitcoin ETFs as Ark abandons ETH ETF amid $100m BTC outflow

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Farside data shows that on May 31, Bitcoin (BTC) exchange-traded funds (ETFs) experienced another inflow, matching the previous trading day’s amount of $48.8 million. Despite the inflows, only two issuers reported positive net inflows. BlackRock’s IBIT ETF saw the largest inflow, with $169.1 million, raising its total net inflow to $16.7 billion. Fidelity’s FBTC ETF followed with a $5.9 million inflow, bringing their total to $8.9 billion. In contrast, Grayscale’s GBTC ETF experienced a significant outflow of $124.3 million, marking the largest since May 1. The total net inflows for Bitcoin ETFs now stand at $13.9 billion.

Bitcoin ETF Flow Table: (Source: Farside)
Bitcoin ETF Flow Table: (Source: Farside)

Farside data shows that these developments have led to 14 consecutive trading days of inflows totaling $2.2 billion, which has seen the Bitcoin price go from roughly $63,000 to $69,000. We are nearing the record of 17 consecutive trading day inflows, which totaled $4.4 billion in inflows, which saw the price go from roughly $40,000 to $50,000.

This influx of interest coincides with Ark Investment’s decision to abandon its Spot-Ether ETF ambitions. It is also accompanied by ArkB’s outflow of $99.9 million from its BTC ETF on May 30, the largest since its launch.

The post 14 straight days of inflows for Bitcoin ETFs as Ark abandons ETH ETF amid $100m BTC outflow appeared first on CryptoSlate.

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