- Bitcoin spot ETFs saw a net inflow of $48.706 million on May 30, marking 13 consecutive days of inflows.
- South Korea is urged to approve crypto ETFs to prevent investment migration to progressive markets.
The thirteenth day in a row of positive inflows, a total net inflow of $48.706 million on May 30, is proof positive interest in bitcoin spot ETFs. This continuing tendency shows how investors are becoming more and more convinced of the possibilities of Bitcoin ETFs, according to SosoValue.
Remarkably, Grayscale ETF GBTC showed stability with a single-day outflow of $0.00, but Fidelity ETF FBTC experienced a notable single-day inflow of $119 million. Over all, Bitcoin spot ETFs have received an astounding $13.809 billion in net inflows throughout history.
The total net inflow of Bitcoin spot ETFs on May 30 was $48.706 million, with net inflows for thirteen consecutive days. Grayscale ETF GBTC had a single-day outflow of $0.00. Fidelity ETF FBTC had a single-day inflow of $119 million. The historical net inflow of Bitcoin spot ETFs…
— Wu Blockchain (@WuBlockchain) May 31, 2024
Bitcoin Price Trends and Market Sentiment
CoinGecko data show that Bitcoin is now worth about $68,554.11, slightly up 0.65% in the last day. Additionally evident over the last week is this increasing trend, with Bitcoin exhibiting a bullish posture with a 1.28% increase.
On the other hand, ETHNews has reported that the Korean Stockholders’ Alliance’s head, Jung Eui-jung, has urged South Korea to allow cryptocurrency exchange traded funds.
Jung is appealing to stop investment money from moving to more progressive markets that have already accepted cryptocurrency exchange-traded funds.
This action is considered essential to preserving the financial markets of South Korea’s competitiveness and keeping home investment in the rapidly developing cryptocurrency industry.
Meanwhile, future concerns center on the possible effects of the October market entry of the Mt. Gox Bitcoin supply. Nevertheless, other analysts think that this situation could unintentionally help Ethereum, especially with the ETH Spot ETF expected to be released soon.