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BlackRock has taken the lead: Spot Bitcoin ETFs are growing
On the spot, there was a net inflow of $45.14 million into Bitcoin ETFs on the previous day, with BlackRock taking the lead.
The impact of the US Fed falling off the agenda and the approval of the spot Ethereum ETF opened up the cryptocurrency market. While Bitcoin and Ether consolidated, there were striking rises in altcoins.
Spot Bitcoin ETFs, which are one of the important metrics for Bitcoin, continue to gain positive momentum. According to the data obtained from SoSoValue, on May 28, BlackRock's IBIT surpassed Grayscale with a net inflow of $103 million.
Spot Bitcoin ETFs continued the series.
Spot Bitcoin ETFs, which are also supported by the upward trend in the cryptocurrency market, saw a net inflow of 45.14 million dollars on May 28th.
Data that marked the day came from BlackRock's IBIT. IBIT witnessed a net inflow of 103 million dollars. Grayscale's GBTC, on the other hand, witnessed a net outflow of 105 million dollars.
According to the latest data, the amount of BTC held by IBIT has reached 19.68 billion dollars. Meanwhile, GBTC has decreased to 19.65 billion dollars. As a result, IBIT has become the largest fund, surpassing GBTC.
Spot Bitcoin ETFs have seen net inflows for 11 consecutive trading days. Experts believe that spot BTC ETFs will end the week with net inflows.
One of the funds that made a mark on the past day was Fidelity's FBTC. FBTC hosted a net inflow of 34 million dollars.
The Fed will announce its interest rate decision in mid-June. It is expected that the cryptocurrency market will maintain its upward trend until this date. In such a scenario, interest in spot ETFs may also continue.
#ContentStar# #BTC# #BountyCreator# #GateLive# #GateioBountyCreator#