Bitcoin ETFs closed fifth consecutive day in gains and see their best week since March – DiarioBitcoin

Taken together, ETFs Bitcoin The US cash market closed yesterday with revenues of USD $221.5 million. This is by far their best week since last March.

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• ETFs Bitcoin They closed this week with income
• They recorded their fifth consecutive day with profits
• Together, they capitalized on entries worth USD $221.5 million during yesterday’s session.
• This week they totaled some USD $948.3 million, and the best performance was Fidelity
• The results coincide with the recent increase capitalized by Bitcoin during this same week

For the fifth day in a row, exchange-traded funds (ETFs) Bitcoin cash in the US close the day capitalizing on positive balances, this time totaling some USD $221.5 million in revenue.

ETFs Bitcoin they close again in green

This is reflected in the data published by Farside Investors, which show that ETFs Bitcoin cash closed last Friday, May 17, in green, even with some pleasant surprises compared to the performance seen in previous days.

Analyzing the figures in detail we have that the ETF Bitcoin The one that capitalized the most income on that day was FBTC of fidelity, which alone capitalized a positive balance of USD $99.4 million. In second place we have the flagship product of BlackRock, IBIT, which closed with USD $38.1 million. And against all odds, third place was recorded Grayscale, since your GBTC closed with profits of USD $31.6 million.

The rest of the other ETFs Bitcoin They capitalized income ranging from USD $20.8 million to just under USD $1 million. None of the products of this type operating on the US stock market closed with losses yesterday.

With this result, the ETFs Bitcoin They close their best week since last March. In these five days of operations they totaled approximately USD $948.3 million, and the product that had the best results during this period was the FBTC of Fidelity with USD $344.5 million. They follow in second and third place ARKB of Ark Invest with USD $243.7 million and the IBIT of BlackRock with USD $131 million, respectively.

Let us keep in mind that ETF inflows Bitcoin spot prices have been cooling since hitting a record high above $1 billion a day in March. The acceleration of inflows coincided with an astronomical increase in the price of the digital currency, which in March reached all-time highs of more than USD $73,000 per coin.

Bitcoin around USD $67,000

The results for ETFs Bitcoin They come to place in the midst of an increase capitalized by the main digital currency this week, which at the time of publication is around USD $67,000 per unit, capitalizing on a slight increase of 1.16% in the last 24 hours.

The increase and volatility seen in the price of Bitcoin It has basically been continuing the evolution seen over the last few days, especially highlighting the changes in the price of the digital currency on May 15, just when the new report was published. Consumer Price Index (CPI) in the US market.

The value of CPI For the month of April, this time it stood at 3.4% annually, a figure that represents a slight drop with respect to the values ​​seen in March of this year, notably breaking with the perspectives of many analysts who expected it to be around 4 %. These results generate expectations about a possible change in the direction of the US Federal Reserve (FED)., which hopes to see clear indicators of decrease in inflationary levels to begin reducing interest rates.

In the last meetings of the Federal Open Markets Committee (FOMC), The members agreed to keep bank interest rates intact, which are located in a target range of 5.25% to 5.5%, pending much more favorable conditions to begin lowering them.

Article by Angel Di Matteo / DailyBitcoin

Picture of DiarioBitcoin, under free use license

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