U.S. Spot Bitcoin ETFs See $621.9 Million Net Inflows, Reversing Recent Outflow Trend

Quick Summary:

Spot Bitcoin ETFs See $621.9 Million Net Inflows, Reversing Recent Outflow Trend On November 6, U.S.spot Bitcoin ETFs collectively recorded $621.9 million in net inflows, marking a strong recovery from three consecutive days of outflows, according to data from Farside Investors.

Among the ETFs, Fidelity’s FBTC led with an inflow of $308.

Increased Demand for BTC: As more funds flow into spot Bitcoin ETFs, demand for Bitcoin is likely to increase, which can drive up its price.

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Article Details

Author / Journalist: Sonam Aggarwal

Category: Crypto

Markets: India

Topics: Crypto News U.S. Spot Bitcoin ETFs Net Inflows

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-07 @ 16:08:13 (10 hours ago)

News Timezone: GMT +8:00

News Source URL: bitcoinworld.co.in

Language: English

Article Length: 741 words

Reading Time: 5 minutes read

Sentences: 39 lines

Sentence Length: 19 words per sentence (average)

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Copyright Owner: © BitcoinWorld

News ID: 23463306

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