$51 million flowed into Fidelity’s FBTC, followed by BlackRock’s IBIT with $16 million. Currently, Bitcoin is trading at $67,729, showing a 0.24% decrease in the past 24 hours.
A total of $100.9 million was invested in eleven U.S. spot bitcoin exchange-traded funds on Wednesday, reversing their trend to a net inflow position. Prior to this, investors had withdrawn their funds from the ETFs on Monday and Tuesday, breaking a record 19-day streak of inflows.
SosoValue data indicates that on Wednesday, Fidelity’s FBTC received $51 million in investments, while BlackRock’s IBIT followed with $16 million. Bitwise’s BITB ETF saw a net inflow of $15 million, VanEck’s HODL ETF received $12 million, and Ark Invest’s ARKB recorded $9 million in inflows. WisdomTree, Invesco, Grayscale’s GBTC, and others did not see any significant flows, with GBTC experiencing net withdrawals since its conversion in January.
Inflation Slowdown
The release of key economic data from the US coincided with Wednesday’s inflows. CNBC reported that the lack of an increase in the U.S. consumer price index for May from the Labor Department suggests a slowdown in inflation.
Despite this, the Federal Open Market Committee (FOMC) decided to maintain interest rates at the current range of 5.25% to 5.50% during their Wednesday meeting. The Federal Reserve anticipates only one rate cut in 2024, believing that the deflationary trend is not over.
Following this news, Bitcoin surged to $70,000 before experiencing a sudden reversal. According to CMC statistics, Bitcoin is currently trading at $67,729, down 0.24% in the last 24 hours.
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