HomeNewsBitcoin ETFs Gain Popularity with $45M Inflows in One Day

Bitcoin ETFs Gain Popularity with $45M Inflows in One Day

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  • Bitcoin spot ETFs received $45.1432 million in inflows on May 28, continuing a bullish trend.
  • Geopolitical and inflationary factors have prompted Americans to examine Bitcoin as an investment.

On May 28, Bitcoin spot ETFs received a cumulative net inflow of $45.1432 million, the 11th consecutive day of net inflows. This constant inflow reflects investors’ rising interest and confidence in Bitcoin ETFs.

Despite the overall favorable trend, Grayscale ETF GBTC witnessed a $105 million outflow. In comparison, BlackRock ETF IBIT experienced a $103 million inflow, while Fidelity ETF FBTC received $34.3451 million, according to SosoValue.

Current Bitcoin Price and Market Performance

According to CoinMarketCap, the price of BTC at the time of writing was around $68,428.07. This represents a 0.65% increase over the previous 24 hours, indicating a short-term positive trend. However, the seven-day performance presents a different image, with Bitcoin down 2.03%.

A recent ETHNews report highlights the influence of global tensions and rising inflation on investment decisions. These facts have prompted American voters to see Bitcoin as a credible investment option.

As traditional markets become increasingly uncertain, more investors are turning to Bitcoin and other cryptocurrencies as potential hedges against economic volatility.

The Role of BTC ETFs in Investment Strategies

Bitcoin ETFs are a popular investment product that allows investors to obtain exposure to Bitcoin without physically holding the cryptocurrency.

This trend is reflected in the significant inflows seen in several Bitcoin ETFs. These ETFs are appealing to both individual and institutional investors due to their ease of use and regulatory control.

According to further research, there is a larger tendency in the cryptocurrency investment scene that includes interest in Bitcoin ETFs. Competition amongst Bitcoin ETFs is growing as more financial institutions launch them.

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Syofri is an active forex and crypto trader who has been diligently writing the latest news related to the digital asset sector for the past six years. He enjoys maintaining a balance between investing, playing music, and observing how the world evolves. Business Email: info@ethnews.com Phone: +49 160 92211628