Bitcoin and Ethereum ETFs hit record-breaking inflows in the first week of June, according to a report from CoinShares. Inflows hit a record-breaking $2 billion with Bitcoin ETFs leading the rally. Bitcoin is yet to experience a price surge despite the high inflows. Crypto ETFs sees record inflows Bitcoin and Ethereum ETFs saw record-breaking inflows in the first week of June, totaling $2 billion. This brings the five-week run of consistent ETF inflows to a whopping $4.
Bitcoin ETFs bought 25,700 BTC last week, 8x the supply of Bitcoin mined in the past two months, according to data from HODL15Capital. The iShares Bitcoin ETF sits atop the list with $21 billion in assets under management. Also read:Bitcoin’s 2% crash wipes $4.21 billion in OI and handicaps altcoins, what’s next? Despite this record-breaking move by ETFs, Bitcoin's price has hovered around the $69K to $70K range in the past week.
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CoinShares posts record revenue in Q1, backed by markets, Bitcoin ETFsCoinShares’s revenue, gains, and other income reached 43.9 million pounds (~$55 million) in the first quarter of 2024, recording a 216% increase year-over-year.
Source: Cointelegraph - 🏆 562. / 51 Read more »
Source: CoinDesk - 🏆 291. / 63 Read more »