ETFs saw $156 million in outflows last week, but that seems to change as Grayscale’s GBTC bleeding comes to an end., last week’s outflows were significant as the BTC price dropped below the average buying price of the ETF issuers.“We estimate the average purchase price of these ETFs since launch to be US$62,200 per bitcoin; as the price fell 10% below that level, it may have triggered automatic sell orders.
Across the board, total outflows on May Day hit $563.7 million, with Fidelity and Grayscale leading the pack at $191.1 million and $167.4 million, respectively. It saw the first inflow of $63.9 million last Friday and confirmed another inflow on Monday worth $3.9 million.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Coin Coin Latest News, Coin Coin Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Grayscale Bitcoin Trust Sees First Inflows Since US ETFs Were ApprovedThe world’s largest cryptocurrency investment vehicle saw a net inflow of investor money for the first time since US exchange-traded funds holding the digital asset were allowed in January.
Source: BNNBloomberg - 🏆 83. / 50 Read more »
Bitcoin spot ETFs’ ‘Zero flow’ days – All you need to knowGrayscale continues to dominate spot Bitcoin ETF market capitalization even as its holdings continue to decline.
Source: CryptoAmb - 🏆 22. / 68 Read more »
Grayscale Bitcoin ETF finally see inflows: Will BTC cross $70K now?The Bitcoin ETF inflow has seen consecutive green trends for the first time in days as the BTC price continued to trend above $60,000.
Source: CryptoAmb - 🏆 22. / 68 Read more »
Grayscale Bitcoin Trust's shares jump after first inflow since JanuaryExplore stories from Atlantic Canada.
Source: SaltWire Network - 🏆 45. / 63 Read more »
Bitcoin’s drop to $58K – The how, why, and what next for BTC’s priceAssessing the factors contributing to Bitcoin's current bearish phase.
Source: CryptoAmb - 🏆 22. / 68 Read more »
Hong Kong to Launch Spot Bitcoin ETFs, Becoming Asia's First CityHong Kong is set to become Asia's first city to offer spot bitcoin exchange-traded funds (ETFs), with approvals expected to be announced next week. This move is aimed at improving the city's attractiveness for financial trading and could bring in fresh global investment and push crypto adoption to new heights.
Source: SaltWire Network - 🏆 45. / 63 Read more »