US investors have been pouring money into spot Bitcoin exchange-traded funds (ETFs) this week, with a total net buying of over $600 million so far. ARK Invest's ARKB led the way with $114 million in new capital, followed by BlackRock's IBIT with $93 million, and Fidelity's FBTC and Bitwise's BITB collectively drawing in about $124 million. Other funds managed by VanEck, Invesco, Valkyrie, and Franklin Templeton also saw gains. The renewed interest in spot Bitcoin ETFs coincides with Bitcoin's recent price rally, which was driven by positive economic indicators and potential stimulus measures in China. Bitcoin's price surge was further supported by the possibility of a Federal Reserve interest rate cut, which could make riskier assets like Bitcoin more attractive to investors.
- Content Editor ( cryptobriefing.com )
- 2024-09-27
US Bitcoin ETFs net $365 million in a single day as Bitcoin rallies above $65,000