The post US Bitcoin ETFs See $250M Inflows; $BTC Dips, Holds At $69K appeared on BitcoinEthereumNews.com.
Key highlights: US Bitcoin Spot ETFs recorded about $250.9 million in net inflows, led by strong buying in iShares Bitcoin Trust (IBIT). Despite the inflows, Bitcoin slipped slightly and traded near $69,800 after briefly moving above the $70,000 mark earlier. Institutional accumulation continued as MicroStrategy added nearly 18,000 BTC, while on-chain data also showed a 2,000 BTC withdrawal from Coinbase. US spot Bitcoin exchange traded funds saw strong inflows, but despite this, the price of $BTC slipped slightly. As per latest data, Bitcoin ETFs drew a combined net inflow of about $250.92 million. Bitcoin ETF sees Inflows, But $BTC dips The largest inflow came from BlackRock’s iShares Bitcoin Trust (IBIT), which posted inflows of roughly $1.858 billion. Other funds also recorded positive activity. Fidelity Investments’s Fidelity Wise Origin Bitcoin Fund (FBTC)attracted around $35 million. Bitwise Asset Management’s Bitwise Bitcoin ETF (BITB) added about $16.4 million. Meanwhile, ARK Invest’s ARK 21Shares Bitcoin ETF (ARKB) brought in roughly $4.1 million. VanEck’s VanEck Bitcoin Trust (HODL) gained about $5.9 million, while Grayscale Investments’s Grayscale Bitcoin Mini Trust saw inflows of around $5.3 million. However, one fund recorded a small outflow. The Valkyrie Bitcoin Fund (BRRR), managed by Valkyrie Investments, reported withdrawals of roughly $4.1M. Even with these investment flows, the price of Bitcoin moved slightly lower during the session. The crypto is trading around $69,826, i.e, a decline of roughly 0.24%. Earlier in the day, Bitcoin had climbed above $70,000 following a 4.2% surge. The brief rally raised expectations among traders that the crypto might extend its upward movement. But, the price later pulled back, and brought the market back below the psychological $70,000 level. However, chart pattern indicate Bitcoin could still be maintaining upward momentum in the short term. On the daily pattern, the crypto has formed an ascending parallel channel after…