Key Points
- The total net inflows in Bitcoin ETFs was $108 million on May 23.
- Bitcoin is currently trading above $67,000.
According to the latest reports coming from SoSoValue, the total net inflows in Bitcoin ETFs were of almost $108 million on May 23.
This marked the ninth consecutive day of inflows in the crypto products.
Here are the net inflows and outflows in Bitcoin ETFs from yesterday, according to official data:
- BlackRock's Bitcoin ETF, IBIT, recorded $89 million in inflows.
- Fidelity's Bitcoin ETF, FBTC, recorded inflows of $19 million.
- ArkInvest and 21Shares' Bitcoin ETF, ARKB, recorded inflows of $2 million.
- Invesco and Galaxy Digital's Bitcoin ETF, BTCO, saw inflows of $2 million.
- VanEck's Bitcoin ETF, HODL, recorded inflows of $10 million.
- Grayscale's Bitcoin ETF, GBTC saw an outflow of almost $14 million.
The remaining Bitcoin ETFs did not see any inflows or outflows.
The total net asset value of the Bitcoin ETFs was of $57,2 billion, according to the same data.
BTC is trading above $67,000
At the moment of writing this article, BTC is trading above the $67,000 mark, down by 3.3% in 24 hours.
Earlier today, the price of BTC dropped below $67,000, before it bounced back above the same mark.
On May 23, BTC traded near the important level of $70,000, before the price of the coin witnessed a correction.
On May 22, BTC surpassed $70,500, before before being corrected again.
BTC began its bullish rally during the past week, when on May 15, the CPI report for April showed optimistic data of an eased inflation for the month, of 3.4%. This triggered a surge in price for BTC of 3% on the day.
During the past few days, Bitcoin has been surrounded by optimistic predictions stemming from lower inflation, new programmability proposals for the network, and political events as well.
The FIT21 bill, aimed at setting legal rules for the digital asset industry, has been passed by the U.S. House of Representatives.
