Cryptocurrency Price Movements Today: Bitcoin Rises Back Above $67,000
Key Takeaways
- Bitcoin is trading over $67,000 on Friday, rising as the Bitcoin 2024 conference continues in Nashville.
- The spot ether ETFs had $152.4 million of net outflows yesterday, while the spot bitcoin ETFs had $31.1 million of net inflows.
- Jersey City Mayor Steven Fulop revealed that the city’s pension fund will invest in bitcoin ETFs, while and the State of Michigan Retirement System reported owning $6.6 million of the ARK 21Shares Bitcoin ETF.
- Coinbase stock is up after it named three new board members.
Bitcoin, which traded near $65,000 yesterday, was recently back above $67,000 as the Bitcoin 2024 conference continues in Nashville.
Thursday was relatively quiet for spot bitcoin exchange-traded funds (ETFs), with $31.1 million of inflows, according to Farside Investors. Jersey City Mayor Steven Fulop announced on X that the city’s pension fund will soon invest in bitcoin ETFs, pointing to a potential 2% allocation. The State of Michigan Retirement System reported owning $6.6 million of the ARK 21Shares Bitcoin ETF (ARKB) in an SEC filing Friday morning.
In the spot ether ETF market Thursday, another $346.2 million flowed out of the Grayscale Ethereum Trust (ETHE), according to Farside Investors. That took the ETF’s three-day total outflows to $1.15 billion, with $7.4 billion worth of assets still under management.
Total net outflows for the spot ether ETF market as a whole now stand at $179.1 million. Ether is up about 2.5% over the past 24 hours, according to CoinDesk data.
Crypto exchange Coinbase Global (COIN) was up 5% following the announcement of three new board members, One of them, Clement & Murphy Partner Paul Clement, will advise Coinbase on its ongoing battle with the SEC.
This article was originally published by a www.investopedia.com . Read the Original article here. .
Disclaimer:The information provided on this website does not constitute investment advice, financial advice, trading advice, or any other sort of advice and you should not treat any of the website’s content as such. BitcoinNews.best does not recommend that any cryptocurrency should be bought, sold, or held by you. Do conduct your own due diligence and consult your financial advisor before making any investment decisions.
