Crypto
Bitcoin Price Drop Can't Deter US Spot ETF Investors
Bitcoin's price drop below $84,000 did not deter investors from pouring money into US spot Bitcoin exchange-traded funds (ETFs). On Wednesday, these funds drew in a net of $347 million, extending their winning streak to five trading days. The five-day total for these inflows reached an impressive $2.65 billion.
BlackRock's iShares Bitcoin Trust (IBIT) led the way with $166 million in new investments, followed closely by Fidelity's Wise Origin Bitcoin Fund (FBTC) with $143 million. These two funds are among the largest US spot Bitcoin ETFs by assets.
Ethereum and XRP also saw significant investment activity on Wednesday, with Ethereum ETFs drawing around $105 million and XRP ETFs adding $18 million to their cumulative inflows.