Bitcoin Spot ETFs Surpass $3 Billion in Net Flows Since Launch
The U.S. saw a significant achievement in the cryptocurrency market, as Bloomberg’s data shows that Bitcoin spot ETFs have garnered over $3 billion in net flows just a month after their launch. This figure even surpasses the initial performance of traditional gold ETFs, which were introduced two decades ago.
Excluding Grayscale, the combined inflows from other Bitcoin spot ETFs are approaching a staggering $10 billion, as per BitMEX Research’s data, an immense growth for the industry.
Another notable comparison that Bloomberg ETF Analyst Eric Balchunas highlighted is how the GLD ETF took nearly two years to reach the same level of capital that Bitcoin ETFs have achieved in just 32 days.
Additionally, the recent surge of Bitcoin and its ETFs saw an impressive two-year high amidst an influx of net inflows, averaging about $450 million per day. This surge can be partly attributed to the slowdown in outflows from the Grayscale Bitcoin Trust (GBTC).
The New Wave of Meme Coins: Introducing Smog
Enter Smog, the latest addition to the meme coin ecosystem, specifically targeting the Solana blockchain. Scheduled to follow the footsteps of prominent coins like Honk, Bonk, and Myro, Smog is preparing for a huge airdrop to gain momentum and attract a broader audience.
With 35% of Smog’s total supply allocated for this event, the upcoming airdrop aims to be one of the most significant in the crypto world. Beyond the airdrop, the project also seeks active community engagement through an innovative Zealy campaign. This approach aims to fuel Smog’s potential for virality within the Solana meme coin ecosystem.
To be part of Smog’s journey and learn more about this exciting new venture, you’re invited to visit the official website and explore the available opportunities to participate in its growth.
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