HomeNewsBreaking: Bitcoin Spot ETFs See 13 Days of Consecutive Inflows

Breaking: Bitcoin Spot ETFs See 13 Days of Consecutive Inflows

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  • 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.

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.

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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