Huge day for Bitcoin ETFs šŸ“ˆ

Spot Bitcoin ETFs in the states saw their second-largest inflow day since launch

Author

Stacy Elliott
June 05, 2024

šŸ“ What you need to know

Yesterday was a huge day for spot Bitcoin ETFs in the U.S. The funds saw more than $886 million worth of inflows on Tuesday, which is second only to March 12 when the ETFs saw inflows top $1 billion.

Why all the attention? Thereā€™s rarely a straightforward answer, but we know this: Bitcoin topped $71,000 for the first time since April yesterday and traders now think thereā€™s a 57% chance the Federal Reserve lowers its target rates in the U.S. in September. But thereā€™s still a week left to wait and see if Fed Chair Jerome Powell drops any hints following the next FOMC meeting.

Bitcoin Price Stabilizes as ETF Inflows Exceed $886 Million for Second-Highest Day Ever

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 šŸ’¬ Quote of the Day

ā

Mr. [Tigran] Gambaryanā€™s health and well-being are in danger, and we fear for his life. Immediate action is essential to ensure his safety and preserve his life. We must act swiftly before it is too late.

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