Markets
Crypto Markets Recover as VanEck Files for Solana Spot ETF
Bitcoin ETFs saw net inflows of $21.4 million on Wednesday.
Cryptocurrency markets rose Thursday morning following a spot from asset manager VanEck Solana ETF Presentation.
Bitcoin is trading at $61,600, while Ethereum increased by 3%. Solana jumped 8% and Polkadot rose 7%.
Akash Network (AKT) and MakerDAO (MKR) are the biggest gainers among the top 100 digital assets by market cap, up 13% and 10%, respectively.
Bitcoin ETF Inflows
Meanwhile, US Bitcoin spot exchange-traded funds (ETFs) recorded net inflows of $21.4 million on Wednesday.
According to the ETF tracker Far sideFidelity’s FBTC led with inflows of $18.6 million. Grayscale’s GBTC saw net inflows of $4.3 million, and VanEck’s HODL saw net inflows of $3.4 million.
Since their debut in January, spot Bitcoin ETFs have collectively attracted $14 billion in net inflows.
CoinGlass data indicates that 34,818 traders were liquidated in the last 24 hours, with total liquidations amounting to $87 million. The largest Bitcoin liquidation order occurred on OKX, worth $9.17 million.
Michael Van de Poppe, CEO of MN Trading, shared his outlook on Bitcoin’s short-term performance. “We prefer to sweep the $60K area where a bullish divergence kicks in. The reversal will come next week with the upcoming Ethereum ETF listing,” he said. She said.
US stock markets continued to move sideways, with the S&P 500 and Nasdaq flat on the day and the Dow Jones Industrial Average up 0.2%.