Markets
Crypto Markets Rally as VanEck Files Spot Solana ETF
Bitcoin ETFs reported net inflows of $21.4 million on Wednesday.
Crypto markets surged Thursday morning following spot from asset manager VanEck Solana ETF Deposit.
Bitcoin is trading at $61,600, while Ethereum increased by 3%. Solana jumped 8% and Polkadot climbed 7%.
Akash Network (AKT) and MakerDAO (MKR) are the top gainers among the top 100 digital assets by market cap today, up 13% and 10%, respectively.
Bitcoin ETF Entries
Meanwhile, spot Bitcoin exchange-traded funds (ETFs) in the United States reported net inflows of $21.4 million on Wednesday.
According to the ETF tracker Other sideFidelity’s FBTC led the way with $18.6 million in inflows. Grayscale’s GBTC saw net inflows of $4.3 million, and VanEck’s HODL reported inflows of $3.4 million.
Since their debut in January, Bitcoin spot ETFs have attracted a total of $14 billion in net inflows.
CoinGlass data reports that 34,818 traders were liquidated in the last 24 hours, with a total liquidation amount of $87 million. The largest Bitcoin liquidation order took place on OKX, valued at $9.17 million.
Michael Van de Poppe, CEO of MN Trading, shared his outlook on Bitcoin’s near-term performance. “Preferably, we sweep the $60,000 zone where a bullish divergence comes into play. Reversal coming next week with the Ethereum ETF listing imminent,” he said. said.
US stock markets continued to move steadily, with the S&P 500 and Nasdaq remaining flat on the day and the Dow Jones Industrial Average up 0.2%.