A whopping $51 million flowed into Fidelity’s FBTC, with BlackRock’s IBIT close behind with $16 million in investments. Bitcoin’s current trading price sits at $67,729, showing a slight decrease of 0.24% over the past 24 hours.
On Wednesday, a total of $100.9 million was injected into eleven U.S. spot bitcoin exchange-traded funds, marking a shift back to a net inflow position. This comes after investors withdrew their funds from ETFs on Monday and Tuesday, breaking a 19-day streak of inflows.
SosoValue data reveals that Fidelity’s FBTC received $51 million in investments, followed by BlackRock’s IBIT with $16 million. Bitwise’s BITB ETF saw a net inflow of $15 million, while VanEck’s HODL ETF attracted $12 million. Ark Invest’s ARKB also recorded $9 million in inflows. Other funds, including WisdomTree, Invesco, and Grayscale’s GBTC, did not see any significant flows.
Inflation appears to be slowing down, with the latest U.S. consumer price index data showing no increase in May. Despite this, the Federal Open Market Committee (FOMC) decided to maintain interest rates at 5.25% to 5.50% during a meeting on Wednesday. The Federal Reserve anticipates only one rate cut in 2024, as they believe the deflationary trend is still ongoing.
Bitcoin initially surged to $70,000 following the Fed’s announcement but quickly retreated, currently trading at $67,729, down 0.24% in the last day.
In other cryptocurrency news, Solana (SOL) struggles to break through the $155 resistance level amid market volatility.