Bitcoin ETF Inflows Remain Strong as Wall Street Hopes for Fed Rate Cut – Btc News

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Bitcoin ETF Inflows Remain Strong as Wall Street Hopes for Fed Rate Cut



Bitcoin investors started the week on a positive note, with US Bitcoin ETFs recording net inflows of $217 million on Monday, May 6. This coincided with all three major Wall Street indexes closing in positive territory, driven by rising expectations of imminent rate cuts by the Fed.

Fidelity Leads Bitcoin ETF Inflows


On May 6, Bitcoin spot ETFs witnessed significant net inflows totaling $217 million, indicating increased investor interest in cryptocurrency exchange-traded products. Among those contributing to this influx, Grayscale ETF GBTC recorded a single-day net inflow of $3,937 million for the second consecutive day.


However, inflows into the Grayscale Bitcoin ETF GBTC have dropped significantly from $64 million as seen on Friday, May 3. Speaking about the development, Vident Investment Advisory chairman Amrita Nandakumar said:

“Now that the tide is turning from exits to inflows, I think it will be harder to predict which direction the flows will go if we continue moving forward. “I will be curious to see how closely this is tied to the Bitcoin price or what other Bitcoin ETF issuers are doing to attract Grayscale investors.”

Fidelity ETF FBTC also recorded significant activity, with a single-day net inflow of $99.1936 million. Additionally, Ark Invest and 21Shares ETF ARKB experienced a significant daily net inflow of $75.6412 million, further highlighting the market’s appetite for exposure to Bitcoin through ETFs. Hong Kong Bitcoin ETFs, on the other hand, now hold more than 3,400 Bitcoins after the first four days of opening for trading.

Hong Kong

There are 4,388 Bitcoin ETFs #Bitcoin 4 days later

pic.twitter.com/uTuBt4FEVJ

— HODL15Capital

(@HODL15Capital) May 6, 2024

Daily trading volume for these funds has declined since the peak in March. Last week, total transaction volume amounted to approximately $11 billion, marking a significant decrease compared to the first week of March, when transaction volume was recorded at over $32 billion.

Healing Wall Street



On Monday, May 6, the Dow Jones Industrial Average closed at 38,852.27, up 176.59 points, or 0.46%. This marked the fourth consecutive session of gains for the 30-stock index. Meanwhile, the S&P 500 index increased by 1.03% to 5,180.74 points, and the Nasdaq Composite index increased by 1.19% to 16,349.25 points.

Stocks rose in afternoon trading following Hamas’ announcement on Monday. The group accepted an Egyptian-Qatari ceasefire proposal aimed at ending the war with Israel.



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Bhushan is a FinTech enthusiast and has a good ability to understand financial markets. His interest in economics and finance draws his attention to the emerging Blockchain Technology and Cryptocurrency markets. He is in a constant learning process and motivates himself by sharing the knowledge he has acquired. In her spare time, she reads thriller novels and sometimes explores her culinary skills.





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