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BlackRocks IBIT ETF has been successful, attracting inflows for four consecutive days, despite the price fluctuations of Bitcoin. This increase in investment in Bitcoin ETFs, the initial such series since January, is providing the crypto market with a much-needed increase.
Notably, IBIT alone attracted a significant $219 million on Tuesday, independently pushing the entire U.S. spot Bitcoin ETF market into positive territory. Bitwise also contributed $12 million on Wednesday.
According to James Butterfill of CoinShares, this could indicate that the market is reaching its lowest point. He noted that Wall Street funds have suffered recently, losing over $6 billion since Trump’s tariff policies.
JPMorgan analysts point out that the total assets managed by U.S. Bitcoin ETFs have increased to $95 billion.
Bitcoin briefly reached a high of $87,300 leading up to the Federal Reserve meeting on Wednesday. However, the Fed’s rather pessimistic forecast of slower economic growth and rising inflation sent the price back down to just under $84,000.
While BlackRock is dominating the inflow activity, not all Bitcoin ETFs are sharing the profits. For example, ARK Invest’s 21Shares fund saw $9 million exit on Tuesday, and Invesco Galaxy’s ETF sold $10 million on Wednesday.
Regardless, the overall positive trend this week suggests a potential change in market sentiment. Monday marked the end of a 17-day outflow series with a strong $233 million inflow.
In a conversation with *DL News*, Butterfill expressed that “Stakeholders are capitalizing on what they consider to be market vulnerability.” He further mentioned the presence of selling activity aimed at short Bitcoin ETFs in the sphere, “potentially suggesting the market is reaching its lowest point.”
**Crypto Sphere Update**
* Bitcoin has decreased by 1% over the past day, currently valued at $83,731.
* Ethereum has decreased by 4.4%, currently valued at $1,957.
**Suggested Articles**
* XRP ETF Authorization Approaching Following SEC Dismissal of Ripple Legal Action: “A Captivating Season” — *DL News*
* 5 Optimistic Visuals to Observe — *Milk Road*
* Bitcoin Advances as Stakeholders Experience Relief Following Significant Fed Gathering — *DL News*
* The Majority of National Organizations Have Modified Their Stance on Crypto, Except for the DOJ — *Unchained Crypto*
* The Cause of Public Discontent Regarding This Solana Advertisement — *Milk Road*
Canary Capital Requests ETF, PENGU Value Increases
*Pedro Solimano is a financial journalist located in Buenos Aires. Have a suggestion? Contact him via email at [email protected].*
