Spot Bitcoin ETFs Rake In $654 Million In 3 Days, But Why Is BTC Price Struggling?
- summy Morphe
- July 16, 2024
- Press release
- Bitcoin, Bitcoin ETF, Bitcoin ETFs, BTC, ETF, ETFS, ETFSwap, Spot Bitcoin ETF, Spot Bitcoin ETFs
- 0 Comments
The price of Bitcoin (BTC) has continued to remain on a downward trend despite recent inflows of over $654 million into Spot Bitcoin ETFs in just three days. While the new inflows have not had any noticeable impact on BTC, ETFSwap (ETFS), a decentralized platform, has benefited immensely from the influx of capital into Spot Bitcoin ETFs, witnessing increased demand from investors aiming to capitalize on tokenized ETF trading.
Spot Bitcoin ETFs Record $654 Million In BTC Inflows
Spot Bitcoin ETFs have recorded a substantial increase in inflows recently, with data from Farside showing a total net inflows of $654 million from July 5 to July 9. Particularly on July 9, Spot Bitcoin ETFs experienced the highest inflows since the beginning of the month, witnessing a total net flow of $294.6 million.
While this substantial influx of capital may reflect the possible long-term sustainability of Spot Bitcoin ETFs, it has had no effect on the price of BTC. Since the beginning of June, BTC has been trading sideways, recording multiple declines as demand for the cryptocurrency dropped.
Earlier this July, Bitcoin (BTC) crashed significantly, triggered by selling pressures from BTC miners and the German government. Additionally, speculations regarding potential sell-offs driven by Mt Gox’s massive BTC repayment plans have also had a significant impact on BTC’s price.
Although many analysts believe that Spot Bitcoin ETFs could catalyze BTC’s rise to new all-time highs, the heightened market volatility and unfavorable conditions have hindered cryptocurrency’s market performance. As of writing, BTC is trading at $57,539, reflecting a 14.4% decline over the past month, according to CoinMarketCap.
ETFSwap (ETFS) Records Massive Demand Surge Amid Spot Bitcoin ETFs Inflows
ETFSwap (ETFS) has witnessed an exponential rise in investor demand as inflows in Spot Bitcoin ETFs heat up. Following the launch of Spot Bitcoin ETFs, many crypto investors and traders have joined ETFSwap’s thriving community to gain access to tokenized crypto ETFs.
As a Decentralized Finance (DeFi) platform, ETFSwap (ETFS) provides access to a diverse array of ETFs, offering borderless and permissionless ETF trading services to investors around the globe. This platform has provided cutting-edge ETF trading features to users, ensuring they have the proper tools and resources to execute trades seamlessly and efficiently.
Furthermore, ETFSwap (ETFS) takes high-value trading to another level by employing sophisticated AI-based algorithms to provide the best ETF recommendations for users by analyzing market trends and historical data. This platform offers up to 10X trading leverages, customized trading strategies and ETF management services to users to potentially amplify their trades and mitigate trading risks.
Regarding safety, ETFSwap (ETFS) maintains a highly secure trading platform, audited by blockchain cybersecurity and audit firm CyberScope, highlighting its smart contracts’ robust security protocols. The platform’s team has also successfully concluded a KYC verification process by Solidproof, a leading smart contract security auditing company.
At the heart of ETFSwap’s ecosystem is its native ERC-20 token, ETFS. By purchasing ETFS tokens in ETFSwap’s ongoing presale, investors will enjoy low transaction fees and exclusive ETF investment opportunities.
Fueled by the rising demand for Spot Bitcoin ETFs, ETFSwap’s presale has recorded over 350 million sold tokens and raised over $2.5 million in just a few weeks. Investors are advised to participate in ETFSwap’s current presale stage as soon as possible to acquire ETFS tokens at a discounted price of $0.01831 before they increase to $0.03846 in the next stage.
Stay Ahead Of The Crypto ETF Market With ETFSwap’s Presale Today
ETFSwap’s presale is expected to end soon, and investors are urged to invest in ETFS tokens before the platform’s official launch. By trading tokenized crypto ETFs on ETFSwap (ETFS), investors can secure their positions and potentially maximize their investment returns ahead of the anticipated influx of capital into tokenized ETFs.
For more information about the ETFS Presale:
