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US Bitcoin ETFs Surpass $100 Billion in Assets as BTC Heads for $100,000
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Bitcoin exchange-traded funds (ETFs) in the United States surpassed the $100 billion mark in total net asset value last Wednesday (20). This increase was directly related to the continuous increase in the price of Bitcoin.
According to data from SoSoValue, the 12 Botcoin ETFs available on the US market totaled US$100.55 billion in assets. This represents around 5.4% of the cryptocurrency’s total market value.
BlackRock’s IBIT fund leads the market with US$45.4 billion in assets under management. Next comes GBTC, from Grayscale, which manages US$20.6 billion. These two managers together represent more than half of the total value of Bitcoin ETFs.
The price of Bitcoin has reached consecutive records in recent weeks, being traded this Thursday morning (21) for around US$97,409, with an increase of 4.3% in the last 24 hours, according to data from CoinGecko.
Bitcoin ETFs continue to be successful
On the same day, Bitcoin ETFs recorded a total of $733.5 million in net inflows. IBIT led these movements, receiving US$626.5 million. GBTC, on the other hand, had no changes to its flow. Meanwhile, Fidelity’s FBTC added US$133.9 million in new contributions.
Other ETFs, such as Bitwise’s BITB and ARKB, a partnership between Ark and 21Shares, recorded smaller inflows of US$9.3 million and US$3.8 million, respectively.
In terms of trading volume, Bitcoin ETFs traded a total of $5.09 billion on Wednesday, slightly lower than the $5.71 billion recorded the previous day.
While Bitcoin ETFs break records, US Ethereum ETFs face an opposite scenario, with net outflows of $30.3 million on Wednesday, extending a five-day streak of negative inflows.
Trading volume for these funds fell to US$338.3 million, a slight reduction compared to US$345.1 million the previous day.
The price of ETH operates slightly higher this Thursday, having appreciated by 0.3% in the last 24 hours. At the time of writing this article, Ether is costing US$3,128.
US Bitcoin ETFs Surpass $100 Billion in Assets as BTC Heads for $100,000
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US Bitcoin ETFs Surpass $100 Billion in Assets as BTC Heads for $100,000
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US Bitcoin ETFs Surpass $100 Billion in Assets as BTC Heads for $100,000
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US Bitcoin ETFs Surpass $100 Billion in Assets as BTC Heads for $100,000
