{"id":304622,"date":"2024-05-18T13:17:31","date_gmt":"2024-05-18T07:47:31","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=304622"},"modified":"2024-05-18T13:17:31","modified_gmt":"2024-05-18T07:47:31","slug":"bitcoin-price-soars-as-us-bitcoin-etf-sees-222m-influx-whats-next-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/bitcoin-price-soars-as-us-bitcoin-etf-sees-222m-influx-whats-next-crypto-news\/","title":{"rendered":"Bitcoin Price Soars As\u00a0US\u00a0Bitcoin ETF Sees $222M Influx, What’s Next? – Crypto News"},"content":{"rendered":"

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The Bitcoin price has continued its upward momentum today while crossing the brief $67,000 mark over the last 24 hours, as the investors seem to have shifted focus on digital assets. Meanwhile, several market pundits also attribute the current rally in the Bitcoin price to the notable inflow of the\u00a0<\/span>U.S.<\/span>\u00a0Spot Bitcoin ETF. So, let\u2019s\u00a0<\/span>take a<\/span>\u00a0look at the inflows noted by the\u00a0<\/span>U.S.<\/span>\u00a0Spot Bitcoin ETF.<\/span><\/p>\n

US<\/span>\u00a0Bitcoin ETF Records $222M Inflow<\/span><\/h2>\n

The Bitcoin price has gained notable traction since last year, as evidenced by a rally of over 145%\u00a0<\/span>over the last<\/span>\u00a012 months. Notably, the hype and the approval of the\u00a0<\/span>U.S.<\/span> Spot Bitcoin ETF seem to have bolstered the confidence of the cryptocurrency<\/a> sector so far this year.<\/span><\/p>\n

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Although the Bitcoin price has witnessed volatile trading lately, mainly due to the cooling fund flow data of the Bitcoin ETFs<\/a><\/span>. However<\/span>, the scenario has changed this week, as evidenced by the significant inflows in the investment instruments.<\/span><\/p>\n

Meanwhile, according to recent data from Farside Investors, the\u00a0<\/span>U.S.<\/span><\/a>\u00a0Spot Bitcoin ETFs<\/a> have recorded a combined inflow of $221.5 million. Notably, Fidelity\u2019s FBTC topped the list with an influx of $99.4 million. On the other hand, the Grayscale GBTC<\/a> also recorded an inflow of $31.6 million, boosting the investors\u2019 confidence.<\/span><\/p>\n

Notably,<\/span>\u00a0this week, the overall inflow into the investment instrument was $948.3 million, reflecting the investors\u2019 confidence in the crypto.<\/span><\/p>\n

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Also Read: Ethereum Blockchain Has A New Version Of Bitcoin & Exchanges are confirming listing before its launch<\/a><\/strong><\/p>\n

Market Reaction As Price Soars<\/span><\/h2>\n

In a recent X post, Bloomberg Senior ETF analyst Eric Balchunas<\/a> highlighted the resilience of Bitcoin ETFs, noting a substantial influx over the past two weeks. Balchunas emphasized that these inflows counterbalanced the negative flows experienced in April, bringing the net value back to approximately \u201c+$12.3 billion\u201d since their launch.\u00a0<\/span><\/p>\n

However, he stressed the importance of this figure, as it accounts for both inflows and outflows, which are common in ETF trading. In addition, Balchunas advised against emotional reactions to these fluctuations, asserting that long-term prospects remain positive. Besides, he also noted that the Bitcoin ETF flow amounts, relative to assets under management (AUM)<\/a>, are relatively small, indicating stability in the market.<\/span><\/p>\n

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Meanwhile, amid this, the Bitcoin price<\/a> soared 1.35% and traded at $66,977.71, while its trading volume fell 15.50% to $25.81 billion. Notably, the crypto has touched a high of $67,459.46 over the last 24\u00a0<\/span>hours,<\/span>\u00a0while noting a year-over-year gain of about 146% as of writing.<\/span><\/p>\n

Also Read: Genesis Debt Repayment- Creditors Get Greater Priority Over DCG<\/a><\/strong><\/p>\n

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Rupam, a seasoned professional with 3 years in the financial market, has honed his skills as a meticulous research analyst and insightful journalist. He finds joy in exploring the dynamic nuances of the financial landscape. Currently working as a sub-editor at Coingape, Rupam’s expertise goes beyond conventional boundaries. His contributions encompass breaking stories, delving into AI-related developments, providing real-time crypto market updates, and presenting insightful economic news. Rupam’s journey is marked by a passion for unraveling the intricacies of finance and delivering impactful stories that resonate with a diverse audience. <\/p>\n<\/p><\/div>\n

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The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.<\/p>\n<\/div><\/div>\n<\/p><\/div>\n

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The Bitcoin price has continued its upward momentum today while crossing the brief $67,000 mark over the last 24 hours, as the investors seem to have shifted focus on digital assets. Meanwhile, several market pundits also attribute the current rally in the Bitcoin price to the notable inflow of the\u00a0U.S.\u00a0Spot Bitcoin ETF. So, let\u2019s\u00a0take a\u00a0look […]<\/p>\n","protected":false},"author":2,"featured_media":212480,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[188,183,185,186,187,184,189,150,182,190],"class_list":["post-304622","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-technology","tag-blockchain-tech","tag-blockchain-technology","tag-crypto-technology","tag-cryptocurrency-technology","tag-metaverse-technology","tag-nft-technology","tag-soul-bound-token","tag-tech","tag-technology","tag-token-technology"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/304622","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=304622"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/304622\/revisions"}],"predecessor-version":[{"id":304624,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/304622\/revisions\/304624"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/212480"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=304622"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=304622"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=304622"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}