GBTC, the Grayscale Bitcoin Trust, experienced an outflow of $32.38 million, while BITB (Bitwise) saw a decrease of $6.76 million in investments. In contrast, BlackRock’s IBIT received an inflow of $14.12 million, and Fidelity’s FBTC received $5.42 million.
On Tuesday, the 11 U.S. spot bitcoin ETFs had a net withdrawal of $13.62 million, reversing the trend of inflows seen in the previous five days. SosoValue’s statistics show that GBTC witnessed an outflow of $32.38 million, and BITB shed $6.76 million. On the other hand, BlackRock’s IBIT saw an inflow of $14.12 million, and Fidelity’s FBTC received $5.42 million. VanEck’s bitcoin fund received $3.51 million, while Ark Invest and 21Shares’ ARKB received $2.48 million.
The trading volume of the 11 bitcoin funds on Tuesday was below $1 billion, a significant decrease from the daily volume of $8-10 billion recorded in March. Since the ETFs started accepting investments in January, a total net inflow of $14.64 billion has been recorded.
As of now, the price of Bitcoin has dropped to $60,144, a decrease of 4.13% in the past 24 hours due to selling pressure. This information is based on data from CMC. Federal Reserve Chairman Powell, while somewhat pleased with the inflation data, remains uncertain about implementing rate decreases, as stated in his remarks on July 2nd.
According to Jerome Powell’s remarks on Tuesday, the central bank has made significant progress in reducing inflation compared to last year. However, he emphasized the importance of having more certainty that inflation, as indicated by US PPI data, is steadily approaching the Fed’s target of less than 2%. The Federal Reserve will not begin easing its monetary policies until that objective is met.
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