Bitcoin ETF has seen a significant inflow of funds in the past 78 hours. As of now the total trading volume of BTC ETF was $918.97 million. FBTC, IBIT, BITB, and ARKB have gathered tremendous traction and seen a surge in inflow.
According to the data from CoinAnk, as of September 23, 2024, FBTC saw an inflow of $24.03 million with a total net inflow of 9.81 billion. Fidelity Wise Origin Bitcoin Fund has a market capitalization of $11.14 billion and holds 174873 BTC.
IBIT was trading at $36.04 with a net inflow of $11.50 million, and its total net inflow was $20.49 billion as of September 23. iShares Bitcoin Trust ETF is the ETF by BlackRock, a global asset management firm. The trust has a market capitalization of $22.56 billion, and its Bitcoin holdings are 357550.21.
This rise came after the Federal Open Market Committee (FOMC) moved to cut interest rates by 50 basis points, which boosted investors. When writing, Bitcoin was trading at $63,547 with a surge of 8.52% in the past seven.
IBIT has a turnover of $623.30 million making it at the top of the list followed by FBTC with a turnover of $122.25 million, GBTC has $81.21 million and ARKB has $48.94 million followed by the remaining others.
Ethereum ETF Mirroring Constant Outflow
The steady inflow in Ethereum ETFs has troubled investors and enthusiasts; as per data from SoSoValue, the broader ETH ETF saw a daily total net inflow of negative $79.21 million.
The Bitcoin and Ethereum ETF by GrayScale seems to be struggling constantly, mirroring an outflow. ETHE ETF by GrayScale saw an outflow of -$80.55 million as of September 23, 2024.
The cumulative total net inflow of Ether ETF as of September 23 was -$686.68 million with a total net asset of $7.20 billion, around 2.25% of Ethereum’s market capitalization.
Other Market News Updates
On September 24, Todayq reported that the U.S Securities and Exchange Commission has filed a lawsuit against Anthem Hayek Blanchard the CEO of Anthem Holdings, and the company for fooling investors resulting in losses over $ 5 million.
SEC has imposed charges on Hayek and his company Anthem for violating the antifraud provision and Section 10 (b) of the Securities and Exchange Act 1934.
Recently in a media appearance at CNBC the CEO of BlackRock argued that Bitcoin could reach $100,00 as it has high potential and is a legitimate investment.
During the conversation, he noted that before studying deep out digital assets and Bitcoin he was skeptical over cryptocurrencies but now is well updated about the high potential BTC offers, and he believes that it can help nations with weak economies and once facing constant devaluation of traditional currencies.
Crypto Market Price Updates
Until publishing the cryptocurrency market capitalization was $2.24 trillion with a surge of 1.10% intraday, at the same time, the fear and greed index powered by CoinMarketCap was at 51 reflecting naturality in the market sentiment.
When writing Bitcoin was trading at $63,524 with an intraday surge of 0.63% in the past 24 hours, however, its trading price has been enjoying great highs since the past 78 hours.
As per market experts if the constant buyers’ dominance remains in the coming sessions BTC prices are expected to break the resistance of $65k followed by the next resistance of $68,833.
The trading prices of Ethereum continue to grow as of writing it was trading at $2661 with an addition of 15.24% in the past 7 days; since the past few weeks, it has been discovered that dozens of whales have swapped significant Ethers into other tokens and coins.
