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Record Bitcoin ETF Inflows Led by Fidelity Boost Market Sentiment

U.S.-listed spot Bitcoin (BTC) exchange-traded funds (ETFs) experienced a surge in inflows on Tuesday, with over $880 million pouring in, according to provisional data released on Wednesday.

This marks the highest single-day inflow since March and the second-largest since the launch of 11 Bitcoin ETFs in January.

Fidelity’s FBTC led the pack, attracting $378 million in inflows, the most among its peers. BlackRock’s IBIT followed with $270 million, while Grayscale’s GBTC, typically known for its outflows, saw an influx of $28 million.

The influx of investments helped Bitcoin prices rise above $71,000 during Asian trading hours, reflecting a 3% increase as the data became public. This renewed activity comes amid a generally bullish sentiment, following a lackluster period from mid-April to early May when some days recorded zero net inflows or even outflows from major ETFs like BlackRock’s IBIT.

Bloomberg analyst Eric Balchunas noted on X that Bitcoin ETFs have accumulated $3.3 billion over the past four weeks, bringing their net year-to-date total to over $15 billion.

The uptick in inflow activity also coincides with the recent approval of ether (ETH) spot ETFs for listing in the U.S. and a favorable outlook for cryptocurrencies amid the ongoing U.S. presidential campaign.

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Disclaimer: Not Investment Advice

it’s crucial to understand that the information provided here is not to be construed as investment advice. The crypto market is dynamic and highly speculative, and decisions should be made based on thorough personal research and consideration of individual risk tolerance. Always consult with financial professionals and conduct your own due diligence before making any investment decisions. The intention of this exploration is to present insights and trends, not to provide specific investment recommendations.

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